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Books > History > African history
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The Ancient Egyptian Economy - 3000-30 BCE (Hardcover)
Loot Price: R3,146
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The Ancient Egyptian Economy - 3000-30 BCE (Hardcover)
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This book is the first economic history of ancient Egypt covering
the entire pharaonic period, 3000-30 BCE, and employing a New
Institutional Economics approach. It argues that the ancient
Egyptian state encouraged an increasingly widespread and
sophisticated use of writing through time, primarily in order to
better document and more efficiently exact taxes for
redistribution. The increased use of writing, however, also
resulted in increased documentation and enforcement of private
property titles and transfers, gradually lowering their transaction
costs relative to redistribution. The book also argues that the
increasing use of silver as a unified measure of value, medium of
exchange, and store of wealth also lowered transaction costs for
high value exchanges. The increasing use of silver in turn allowed
the state to exact transfer taxes in silver, providing it with an
economic incentive to further document and enforce private property
titles and transfers.
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