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Homo Oeconomicus in Ancient Athens: Silver Bonanza and the Choice to Build a Navy

Tridimas, George (2013) Homo Oeconomicus in Ancient Athens: Silver Bonanza and the Choice to Build a Navy. Homo Oeconomicus, 30 (4). pp. 435-458. [Journal article]

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Abstract

In 483/2 BC the ancient Athenians voted to spend the revenue from recently discovered silver deposits to build a navy instead of distributing it as cash transfers to all citizens. The navy was pivotal for victory against the invading Persians and secured the power and wealth of classical Athens. The paper discusses three interrelated issues. (1) The use of the voting mechanism to decide the disposal of the revenue from natural resources. (2) The binary nature of the choice, either transfers or defence but not a combination of the two. (3) An explanation of the vote based on the increase in probability of military victory following an increase in defence spending.

Item Type:Journal article
Keywords:Ancient Athens; direct democracy; defence; cash–benefits; economics of conflict; triremes
Faculties and Schools:Faculty of Social Sciences > School of Criminology, Politics and Social Policy
Ulster Business School
Research Institutes and Groups:Institute for Research in Social Sciences > Social Work & Social Policy
Institute for Research in Social Sciences
ID Code:28743
Deposited By: Professor George Tridimas
Deposited On:26 Feb 2014 11:53
Last Modified:17 Oct 2017 16:13

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