Hellenistic Economic Development

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This paper will look at the political including economic, and cultural and social developments during the Hellenistic period. I personally believe that many positive developments came about this period.
Graham Shipley author of ‘The Greek World After Alexander 323–30 BC’ highlights the least positive development during the Hellenistic period were the multiple Kings’ who ruled after Alexander the Great following his death in 323 B.C. Each of these Kings’ had their own agendas which resulted in multiple wars breaking out. It was the emergence of hell for their people. Since Alexander had left no legitimate heir to succeed him and his nearest male relative was his half-brother, who did not fit Alexander’s criteria of “the best man”. History states …show more content…
Michel M. Austin’s book ‘The Hellenistic World from Alexander to the Roman Conquest’ (Austin’s documents), Austin’s document 238 ‘Letter to Apollonius concerning the gold coinage of Ptolemy II (ca 24 October 258)’ explains the creation of an international monetary economy, based upon gold and silver coins, which became common in the East. Financial institutions, usually owned by the government, were the source of credit for all kinds of business ventures. Due to the abundance of capital speculation, cornering of markets, intense competition, growth of large business, and the development of insurance and advertising were significant …show more content…
This is a similar strategy China adapts today with their two currency system to ensure the competitiveness of their products. This policy not only controls trade but, generates foreign currency reserves and revenue for the government.
It was interesting to note how during the Hellenistic period it was policy to free all slaves and restrict the use of slave labour but, during the 17th and 18th century it came back in the world and even today we are unable to restrict the slave trade. When reading through material for this course it made me understand the immense effort taken to create pieces of art which contributed significantly to Hellenistic culture and our culture today in the 21st century, and the fate it faces if necessary precautions are not taken to secure it from looting and destruction especially in the
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