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nydus/A History of Greek Economic ThoughtPublic

This volume provides a reinterpretation of Greek economic theory by examining the relationship between ancient thought and modern humanitarian economy. The text analyzes Greek economic ideas within the context of the contemporary economic environment and provides a bibliography of relevant scholarly works.

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Table of Contents

CHAPTER VI ARISTOTLE

attitude toward the institution of private property and other related questions, both in his criticism of other thinkers, and in his own positive suggestions for the ideal state. Through his objections to the systems of Phaleas and Plato, he has acquired the reputation of being the great defender of private property in Greece. We shall see the extent to which this interpretation of him is correct. Our consideration of his theory may be summarized under certain topics which are fundamental to the problem of distribution.

He admits that the doctrine of economic equality may have some wisdom in it.796 The attempt to equalize possessions may tend slightly to prevent civic discord.797 Yet it is liable to arouse sedition on the part of the exploited classes,798 and such relief measures will satisfy the masses only for a time, for they are notoriously insatiate.799 In his opinion, therefore, the saner remedy is equalization of desires rather than of property,800 which must be realized by proper education and a right constitution, whereby the upper classes shall not oppress, and the masses shall be held in check. We have here still a valid argument against the more radical type of socialism. It is suggestive of the modern doctrine of private property as a public trust,801 and presents clearly the antithesis between the attitude of Greek thinkers and that of the modern social democracy.802

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