New research suggests that Bronze Age Europeans engaged in economic practices remarkably similar to modern market economies, challenging long-held beliefs about the role of elite powers in ancient financial systems.
The findings, led by researchers from institutions in Denmark and Italy, indicate that economic behaviors in the Bronze Age may be less foreign to us than previously thought. “The Bronze Age was a familiar world with families, social networks, and marketplaces, where people had to navigate everyday economic challenges,” emphasized one researcher.
Spanning from 3300 to 800 BC, the Bronze Age was characterized by metal fragments, or hoards, discovered in various European locations. Researchers analyzed over 20,000 metal objects from these hoards, which started showing a standardized weight around 1500 BC—evidence some experts associate with early forms of currency.
“The emergence of a standardized weight system offers a new perspective on ancient economies, revealing patterns previously unexamined,” the researcher stated. The study revealed that smaller, lightweight objects were most prevalent, resembling modern spending habits where individuals make frequent small purchases rather than large transactions.
The team argues that these findings signify that Bronze Age economies functioned based on supply and demand models, a stark contrast to the older view that categorized ancient economies as barter-based. This assertion challenges anthropologist Karl Polanyi’s 1940s theory that established modern monetary economies as separate from ancient practices.
Scholars in the field have reacted to the study, with some expressing skepticism about the conclusions, warning against assuming ordinary people in antiquity employed money in ways akin to modern economic behaviors. Others believe the research could reignite discussions about the true nature of ancient economic systems.
Researchers encourage continued exploration of economic practices in various historical contexts, suggesting that the foundations of market economies may be more universal across cultures than previously recognized. They stress that their findings do not definitively prove existence but challenge prevailing assumptions about economic complexity in the past.
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