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Ancient Tablets Show Markets Worked 4k Years Before Economists Explained Them

https://thedailyeconomy.org/article/ancient-clay-tablets-show-markets-worked-4000-years-before-economists-explained-them/
26•NaOH•4d ago

Comments

spudlyo•1h ago
It's interesting that commerce/business was this sophisticated in the Bronze Age. I guess it's not that surprising given the famous customer service complaint[0] cuneiform tablet to Ea-nāṣir about receiving the wrong grade of copper ingots and his servant receiving rude service.

It's also no wonder that the thing a theory describes exists long before the theory itself. We had language well before we had grammarians, and we had music long before music theory existed. Adam Smith didn't invent moral sentiments or market economics, just as Pythagoras didn't invent music. The article weirdly makes a big deal out this.

[0]: https://en.wikipedia.org/wiki/Complaint_tablet_to_Ea-n%C4%81...

cwnyth•42m ago
Everyone points to Ea-nasir, but that's a meme. Meanwhile, Diocletian outlawed price gouging and standardized prices across a variety of goods:

https://en.wikipedia.org/wiki/Edict_on_Maximum_Prices

From Polanyi, Finley, and Weber to Austin and Malkin, we've come a long way in recognizing the sophistication of ancient economic thought.

spudlyo•14m ago
We are about ~300 years closer to Diocletian than Diocletian was to Ea-nasir. Too bad he didn't have access to Adam Smith, who could have told him that price fixing wouldn't work and might have pointed to Roman currency debasement as one of the major causes of inflation. Of course greed is always a factor I suppose.
psychoslave•8m ago
You forget to mention life and biology, earth and geology, universe and cosmology.
pram•44m ago
“The word “capitalism” would not be coined for another 3,800 years. Adam Smith was 3,700 years from picking up his pen.”

This is pretty bad writing lol. Markets are as old as civilization itself, Adam Smith obviously knew this. General commerce != capitalism

dudeinjapan•9m ago
I'm looking for the tablet that says "We're an anarcho-syndicalist commune..."
AbrahamParangi•37m ago
This is AI generated slop.
thesmtsolver2•36m ago
What signs do you see?
roywiggins•11m ago
Long sequences of short sentences. Not X, but Y.

And Pangram flags it, too.

https://www.pangram.com/history/126831e1-562f-4e65-9874-5250...

oxonia•27m ago
Yup - pretty obvious.
nativeit•26m ago
Should we be surprised that economics preceded economists?
jrm4•18m ago
I hope people get the right message from this, which is:

The way people talk about "Capitalism" is most often silly and counterproductive because most of the time -- the person that hates capitalism and the person that loves capitalism are talking about nearly entirely different things.

dudeinjapan•7m ago
Also, should we capitalize the "C" in "Capitalism"? One might think we should, because C is a capital letter. But capital itself is lowercase, and therein lies the paradox.
AngryData•1m ago
A lot of people underestimate the bronze age and all the limelight goes to later Greeks and Romans because we have better records of them. But the bronze age and its empires were just as impressive in my opinion. Tin is not a very common metal to find and there are only significant deposits in a limited number of places around the globe. The trade routes required to support bronze production were thousands of miles long.

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Ancient Tablets Show Markets Worked 4k Years Before Economists Explained Them

https://thedailyeconomy.org/article/ancient-clay-tablets-show-markets-worked-4000-years-before-ec...
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