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Historic Economic Practices in Antiquity
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Barter system
Used by many ancient civilizations like the Sumerians, trading goods and services without using a standardized currency. Goods like grain, cattle, and crafted items were directly exchanged.
Minting coins
Originated with the Lydians, around 600 BCE, among the first to use a standardized precious metal currency which increased trade efficiency.
Potlatch
A ceremonial feast used by the indigenous peoples of the Pacific Northwest Coast of America; wealth was redistributed and social status was asserted by giving possessions to the community.
Feudalism
Medieval Europe's economic system where land was the main currency, with lords granting land to vassals in exchange for military service.
Tribute system
Practiced by the Aztec civilization; subjugated people and nations were required to provide periodic payments of goods and labor.
Corvée labor
Used in ancient Egypt, a system where the public must provide unpaid labor to the state for public works such as the construction of dikes and temples.
Silk Road commerce
An ancient network of trade routes connecting China and the Far East with territories in the Middle East and Europe, facilitating not just trade but also cultural exchange.
Cuneiform receipts
Used in ancient Mesopotamia, one of the earliest forms of writing on clay tablets that documented transactions.
Incan mit'a
A mandatory public service system in the Inca Empire that required all able-bodied citizens to work for the state a certain number of days each year.
Crop rotation
Agrarian practice to maintain soil fertility, used in ancient Roman agriculture to increase long-term yields.
Usufruct rights
A practice in ancient Rome allowing individuals to use and enjoy the profits from land that they do not own, as long as the land is not damaged.
Water clock (Clepsydra)
Used by various ancient civilizations including the Greeks, a time-measuring device that determined labor and trade periods using the flow of water.
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