Economics Detective Radio
Why No Ancient Greek Industrial Revolution? A Conversation with George Tridimas
Aug 3, 2018
George Tridimas, an expert in economics and history, discusses why Ancient Greece didn't experience an industrial revolution. Factors include cultural barriers, energy limitations for steel production, and the absence of profit-driven economies. The podcast explores the impact of political contests, warfare, and the high labor to capital ratio in hindering economic development in ancient Greece.
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Quick takeaways
- Ancient Greece's lack of energy sources like coal hindered industrial revolution, creating reliance on slave labor instead of technological progress.
- Institutions in ancient Greece, with direct citizen voting and illiberal attitudes towards wealth, discouraged economic growth and technological advancements.
Deep dives
Factors hindering industrial revolution in ancient Greece
Ancient Greece, despite its prosperous civilization in the 4th century BCE, did not experience an Industrial Revolution similar to England and the low countries. Several key factors contributed to this, including the lack of rational economic attitudes, reliance on animate energy sources like wind and water, the absence of strong metallurgical capabilities leading to reliance on slaves instead of technological advancements, illiberal civic attitudes where citizenship was not an inherent right but a legal construct, and constant warfare that hindered capital accumulation and technological progress.
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