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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 VII MINOR PHILOSOPHERS, CONTEMPORARIES OR SUCCESSORS OF PLATO AND ARISTOTLE

quality of rarity. This, however, is only a step in the argument, which has for its goal the thesis that intellectual attainments constitute the most important part of one’s wealth, and possess a very real economic value.956 The author thus agrees with Plato, Xenophon, the Cynics, and the Stoics, in his emphasis upon spiritual goods. The distinction between value in use and value in exchange and the necessary dependence of the latter upon the former are also suggested in the statement that nothing can have economic value except as there is a demand for it. The money that passes current in one state may be valueless in another, as also would be the mansion of the wealthy Polytion to Scythian nomads, since there would be no demand for them.957

The Eryxias has no clear or satisfactory definition of wealth. It is recognized that wealth must be defined before its character as good or evil can be determined, but the final answer nowhere appears.958 In this vagueness of result, one is strongly reminded of some of Plato’s minor dialogues. There is also a certain ambiguity throughout the work, similar to that observed in Plato,959 between wealth in its strict economic sense and excessive wealth. We may gather from the course of the argument, however, that the author would define wealth as consisting of things that possess utility, and are subjects of economic demand, whether external, physical, or intellectual goods.

The attitude of the Eryxias toward wealth is an extreme version of that with which we have become familiar in the Socratics, and is best characterized as Cynic. As seen above, the author considers external wealth to be an absolute second to wisdom,960 since wisdom is not only itself a means of providing material needs,961 but also and especially because through it alone does any material wealth become truly valuable.962 When the latter is made the summum bonum, it becomes the greatest evil. Like Plato, Jesus, and Ruskin, he insists that the kingdom of wisdom be given the first place,963 for things derive their good or evil quality from the character or knowledge of the user.964 The ironical account of how the Greek

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