History of Money, Banking, and Trade
Episode 5. Unearthing Assyria: The Evolution of Trade, Silver, and Financial Structures in an Ancient Economic Powerhouse
Have you ever wondered how the Assyrian Empire, famed for its brutality, was also one of the world's first economic powerhouses? Prepare to be taken on a riveting journey back in time to the evolution of trade and money in the ancient world. From the Greek mercenary army's shock at finding abandoned cities to the groundbreaking shift from cuneiform to parchment writing, we unravel a fascinating aspect of Assyrian progressiveness, contradicting their notorious reputation.
In this episode, we shine a light on the role of silver in ancient trade. Discover how this precious metal transformed from a basic price measurement tool to a formal medium of exchange. We delve into the bustling trade activities of Ashur, the Assyrian city where much of Mesopotamian silver flowed, revealing the intriguing dynamics of ancient commerce. From legal documents for merchants to the temples' role as storehouses, get ready to immerse yourself in the captivating world of antiquity.
Finally, we unpack the intricate workings of the tamkārum, the Assyrian trading system that shielded merchants while promoting trade agreements. We reveal the ancient datum account system of the Karam, a commercial office established about 4,000 years ago, and compare it intriguingly to modern private funds. Unearth secrets of exorbitant interest rates, potential insider trading, and the enormous profits amassed from long-distance trade. So, buckle up for a breathtaking trip into the heart of an ancient economic giant.
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