Economy

   Byzantium's (q.v.) economy was based chiefly on agriculture (q.v.), for most citizens of the empire were farmers. By the ninth century, farmers were free peasants (as reflected in the Farmer's Law [q.v.]), and remained such until the growth of the pronoia (q.v.) system in the 12th century. Most revenues from state taxation (q.v.) were derived from taxes on land, which is why land-grabbing by wealthy aristocracy in Asia Minor (qq.v), the so-called "powerful" (dynatoi [q.v.]), threatened the economic health of the state. Taxes and assessments for the army were paid largely in coinage (q.v.), for Byzantium had a monetary economy. Nevertheless, there was a parallel barter economy in the countryside, and in cities one could find some services and salaries being paid in kind. Constantinople (q.v.) and other cities of the empire, most of them situated along the coastline of the Mediterranean and Aegean (qq.v.) were emporiums of trade. Trade on land and by sea was strictly controlled and taxed. For example, Abydos (q.v.) collected taxes on shipping going to and from Constantinople. The state also controlled manufacturing by controlling the guilds, and by reserving certain manufacturing (e.g., in silk) for itself. Nevertheless, private enterprise did exist, as illustrated by the story of the widow Danelis (q.v.), and, in the late 13th-century, by the career of Goudeles Tyrannos (q.v.). In general, the health of the Byzantine economy was much dependent on the state's ability to control its borders. Attacks on Asia Minor by Arabs, and subsequently by Seljuks (qq.v), eroded the agricultural heart of the Byzantine economy. Byzantine control of its maritime economy was eroded by inroads from the Italian republics, especially Venice (q.v.), despite the attempt by Alexios I (q.v.) to create a more flexible monetary system, one suited more to commercial markets. Venice especially made inroads into the Byzantine economy. This culminated most dramatically in the conquest of Constantinople in 1204 by the Venetian-led Fourth Crusade (q.v.).

Historical Dictionary of Byzantium . .

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  • economy — e*con o*my ([ e]*k[o^]n [ o]*m[y^]), n.; pl. {Economies} ([ e]*k[o^]n [ o]*m[i^]z). [F. [ e]conomie, L. oeconomia household management, fr. Gr. o ikonomi a, fr. o ikono mos one managing a household; o i^kos house (akin to L. vicus village, E.… …   The Collaborative International Dictionary of English

  • Economy 10 — is the name of a tariff provided by United Kingdom electricity suppliers. Similar to the Economy 7 this is designed to be used with storage heaters or warm air heating. In contrast to Economy 7, which only provides off peak electricity during… …   Wikipedia

  • Economy 7 — is the name of a tariff provided by United Kingdom electricity suppliers that uses base load generation to provide cheap night time electricity.Houses using the Economy 7 tariff require a special electricity meter which provides two different… …   Wikipedia

  • Economy — Economy, IN U.S. town in Indiana Population (2000): 200 Housing Units (2000): 79 Land area (2000): 0.096963 sq. miles (0.251134 sq. km) Water area (2000): 0.000000 sq. miles (0.000000 sq. km) Total area (2000): 0.096963 sq. miles (0.251134 sq.… …   StarDict's U.S. Gazetteer Places

  • economy — [i kän′ə mē, ēkän′ə mē] n. pl. economies [L oeconomia < Gr oikonomia, management of a household or state, public revenue < oikonomos, manager < oikos, house (see ECO ) + nomia, NOMY] 1. the management of the income, expenditures, etc. of …   English World dictionary

  • economy — ► NOUN (pl. economies) 1) the state of a country or region in terms of the production and consumption of goods and services and the supply of money. 2) careful management of available resources. 3) a financial saving. 4) (also economy class) the… …   English terms dictionary

  • Economy, IN — U.S. town in Indiana Population (2000): 200 Housing Units (2000): 79 Land area (2000): 0.096963 sq. miles (0.251134 sq. km) Water area (2000): 0.000000 sq. miles (0.000000 sq. km) Total area (2000): 0.096963 sq. miles (0.251134 sq. km) FIPS code …   StarDict's U.S. Gazetteer Places

  • Economy, PA — U.S. borough in Pennsylvania Population (2000): 9363 Housing Units (2000): 3629 Land area (2000): 17.698873 sq. miles (45.839868 sq. km) Water area (2000): 0.069934 sq. miles (0.181128 sq. km) Total area (2000): 17.768807 sq. miles (46.020996 sq …   StarDict's U.S. Gazetteer Places

  • Economy A+ — (Познань,Польша) Категория отеля: Адрес: Plac Kolegiacki 9/4, Старе Място, 61 841 Познан …   Каталог отелей

  • Econŏmy — Econŏmy, 1) Städtischer Bezirk mit Postamt (Post township in der Grafschaft Beaverim Staate Pennsylvanien (Nordamerika) am Ohio River; 1500 Ew.; 2) Postort darin, am Ohio Pennsylvania Eisenbahn. Deutsche Ansiedelung (ursprünglich Harmonie genannt …   Pierer's Universal-Lexikon

  • Economy — (spr. ikónnomi), Ort in Pennsylvanien, Grafschaft Beaver, am Ohio, 1825 von Georg Rapp (s. d.) nach den Grundsätzen der Gütergemeinschaft und Ehelosigkeit gegründet, mit (1900) 1062 Einw …   Meyers Großes Konversations-Lexikon

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