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Democracy, Institutional Changes and Economic Development: The Case of Ancient Athens

Author

Listed:
  • Kyriazis, Nicholas K.
  • Karayiannis, Anastassios D.
Abstract
The discussion of strengths and weaknesses of democracy is almost as old as democracy itself and it still continues. In the present paper we present a new theoretical perspective on democracy as a system that facilitates changes, especially in the form of direct democracy. We stress the role of the “initiator”, e.g. anybody who has the right to introduce a new proposal. This possibility increases the existence of the number of available strategies in a point of time. The decision makers can choose strategies form this set, and under a continuous situation of trial and error can reject wrong ones and retain correct ones (in the sense of welfare increasing strategies). Thus, society gains knowledge and new efficient institutions emerge. Lastly, we analyse the prototype direct democracy of ancient Athens, as a case study to highlight and test our model's hypotheses. It will also be analysed how under direct democracy of the Athenian type, the Assembly became a market place for the competition of ideas.

Suggested Citation

  • Kyriazis, Nicholas K. & Karayiannis, Anastassios D., 2011. "Democracy, Institutional Changes and Economic Development: The Case of Ancient Athens," The Journal of Economic Asymmetries, Elsevier, vol. 8(1), pages 61-91.
    • Handle: RePEc:eee:joecas:v:8:y:2011:i:1:p:61-91
    DOI: 10.1016/j.jeca.2011.01.003
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    References listed on IDEAS

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    1. Martin C. McGuire & Mancur Olson, 1998. "The Economics of Autocracy and Majority Rule: The Invisible Hand and the Use of Force," International Economic Association Series, in: Silvio Borner & Martin Paldam (ed.), The Political Dimension of Economic Growth, chapter 3, pages 38-73, Palgrave Macmillan.
    2. Kaiser, Brooks A., 2007. "The Athenian Trierarchy: Mechanism Design for the Private Provision of Public Goods," The Journal of Economic History, Cambridge University Press, vol. 67(2), pages 445-480, June.
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    11. Nicholas Kyriazis & Michel Zouboulakis, 2004. "Democracy, Sea Power and Institutional Change: An Economic Analysis of the Athenian Naval Law," European Journal of Law and Economics, Springer, vol. 17(1), pages 117-132, January.
    12. Nicholas Kyriazis, 2009. "Financing the Athenian state: public choice in the age of Demosthenes," European Journal of Law and Economics, Springer, vol. 27(2), pages 109-127, April.
    13. Fleck, Robert K & Hanssen, F Andrew, 2006. "The Origins of Democracy: A Model with Application to Ancient Greece," Journal of Law and Economics, University of Chicago Press, vol. 49(1), pages 115-146, April.
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    16. Daron Acemoglu & James A. Robinson, 2000. "Why Did the West Extend the Franchise? Democracy, Inequality, and Growth in Historical Perspective," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(4), pages 1167-1199.
    17. George Halkos & Nickolas Kyriazis, 2006. "Is tax competition harmful and is the EU an optimal tax area?," European Journal of Law and Economics, Springer, vol. 21(2), pages 163-177, April.
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    20. George Halkos & Nickolas Kyriazis, 2005. "A Naval Revolution and Institutional Change: The Case of the United Provinces," European Journal of Law and Economics, Springer, vol. 19(1), pages 41-68, January.
    21. Jan Schnellenbach, 2004. "The Evolution of a Fiscal Constitution When Individuals are Theoretically Uncertain," European Journal of Law and Economics, Springer, vol. 17(1), pages 97-115, January.
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    Citations

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    Cited by:

    1. Mario Coccia, 2020. "Effects of the institutional change based on democratization on origin and diffusion of technological innovation," Papers 2001.08432, arXiv.org.
    2. Kovaleva, Margarita Shagenovna (Ковалева, Маргарита Шагеновна), 2019. "Evolution Of Theoretical Bases And Principles Of Federalism [Эволюция Теоретических Основ И Принципов Федерализма]," State and Municipal Management Scholar Notes, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 276-281.
    3. Nicholas KYRIAZIS & Emmanouil ECONOMOU, 2013. "Social Contract, Public Choice And Fiscal Repercussions In The Athenian Democracy," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 4(1), pages 61-76.
    4. Economou Emmanouil M.L. & Kyriazis Nicholas C., 2016. "Choosing Peace Instead of War. A Lesson from Athenian Democracy," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 22(2), pages 191-212, April.
    5. Economou, Emmanouel/Marios/Lazaros & Kyriazis, Nicholas, 2015. "Athenian fiscal expansionary policy and peace versus war strategy," MPRA Paper 62987, University Library of Munich, Germany.
    6. repec:elg:eechap:15325_25 is not listed on IDEAS

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    More about this item

    Keywords

    B25; E11; N4; Democracy; path dependence and change; institutional changes; economic growth; ancient Athens;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • N4 - Economic History - - Government, War, Law, International Relations, and Regulation

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