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City-States City-States
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Technology Technology
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Productivity Productivity
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Transport Transport
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Technology Withers Technology Withers
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Wealth Wealth
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Law and Trade Law and Trade
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6 The Hellenistic Business Environment
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Published:February 2015
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Abstract
This chapter focuses on the Hellenistic business environment. It describes the new conditions that increased Hellenistic wealth and made the performance of money, markets, and business more efficient and effective. The main changes took place in the role played by city-states, the use of technology, the amount and distribution of wealth, and the development of international trade law. These new conditions no doubt strengthened acceptance of the free-market system and thereby helped weave business into the economic fabric of the Western world. However, as business improved, its practitioners did worse. The greater concentration of wealth in Hellenistic cities, as compared to the democracies of classical Greece, allowed the few who could invest to capture most of the business profits available, leaving only the dregs for entrepreneurs. No longer did business lead to wealth or social advancement; instead it became an occupation for slaves and lowlifes.
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