ECONOMIC FOUNDATIONS IN ANTIQUITY: A HISTORICAL EXPLORATION OF ANCIENT EGYPT

Abstract

Abstract: This exhaustive investigation thoroughly explores the complex economic history of ancient Egypt, providing insights into key components such as agriculture, trade, and inflation. The study illuminates the significant roles played by the state system in molding the economic landscape of this ancient civilization. The economic structure of ancient Egypt demonstrated a profound interdependence with its imperial dynastic structure and advanced technological capabilities. Agriculture, serving as the foundational element, prospered through the annual Nile inundation, yielding crucial surpluses essential for trade and taxation. Trade, predominantly conducted through barter, played a substantial role in the economic framework, with documented instances of both state-controlled and private enterprises. A central focus of the article entails a thorough exploration of the widespread social and economic ramifications resulting from inflation, particularly the noteworthy Ptolemaic copper inflation. This nuanced analysis significantly contributes to a deeper comprehension of the intricacies inherent in the economic history of ancient Egypt. Precisely, the article conscientiously recognizes the significance of surplus generation and the assessment of labor value. It underscores the pivotal roles undertaken by both governmental and private entities in molding the economic dynamics of ancient Egypt