THE ECONOMICA
Economica were one of the characteristic types of Greek literature, after the Economicus of Xenophon.[[864]] They discussed wealth from the ethical standpoint, dealt largely with domestic, rather than public, economy, and considered questions of human relations, such as slavery and the married life. They are, in general, imitations of Xenophon and of Aristotle’s Politics, and add very little of interest to the economic theory of the Socratics. Aside from the work, falsely ascribed to Aristotle, to be discussed below, Economica were written by Antisthenes,[[865]] Xenocrates,[[866]] Philodemus,[[867]] Metrodorus of Lampsacus,[[868]] Hierocles,[[869]] Dio Chrysostom,[[870]] Plutarch,[[871]] and the New-Pythagoreans,[[872]] Bryson,[[873]] Callicratidas,[[874]] Periktione,[[875]] and Phintys.[[876]]
The pseudo-Aristotelian Economica[[877]] require no extended discussion, since most of the material that is of interest in them is an imitation of Aristotle’s Politics and Xenophon’s Economics. Book i is largely a repetition of some of Aristotle’s theories of domestic economy, the marriage relation, and slavery, with a few unimportant additions and slight differences.[[878]] Book ii is almost entirely composed of practical examples of how necessary funds have been provided by states and rulers.
The most distinctive point about the doctrine of the first book is its separation of οἰκονομική from πολιτική as a special science.[[879]] The author agrees with Aristotle, however, that it is the function of economics both to acquire and to use, though without his specific limitations upon acquisition.[[880]] He distinguishes four forms of economy—acquiring, guarding, using, and arranging in proper order.[[881]] Elsewhere, he makes a different classification on another basis—imperial, provincial, public, and private.[[882]] These are each further subdivided, the first including finance, export and import commerce, and expenditures.[[883]]
Agriculture is especially eulogized by the author, in the spirit of Xenophon and Aristotle. It is the primary means of natural acquisition, the others being mining and allied arts whose source of wealth is the land.[[884]] It is the most just acquisition, since it is not gained from men, either by trade, hired labor, or war,[[885]] and it contributes most to manly strength.[[886]] Retail trade and the banausic arts, on the other hand, are both contrary to nature,[[887]] since they render the body weak and inefficient (ἀχρεῖα).[[888]]
The work agrees with Aristotle, against Plato, in his doctrine that men and women are essentially different in nature, and hence that their work should be distinct.[[889]] No attempt is made to justify slavery, though Aristotle is followed in his advice to grant emancipation, as a special reward for faithfulness.[[890]] The author of Book ii seems to have taken for granted the Cynic theory that money need have no intrinsic value, at least for local purposes. Coinage of iron,[[891]] tin,[[892]] bronze,[[893]] the arbitrary stamping of drachmas with a double value,[[894]] are all offered apparently as a proper means of escape from financial difficulty. Like Aristotle, he accepts monopoly as a shrewd and legitimate principle of finance.[[895]] Elsewhere, however, in striking contrast to such uneconomic suggestions, the author states the important economic principle that expenditures should not exceed income.[[896]] In accord with Greek usage, he is familiar with a tax on exports for revenue and as a means of guarding against depletion of supply.[[897]]