Palace economy

Definition of Palace economy

A palace Economy (also known as redistribution economy) is the type of economy which follows wealth flow from the central source (Palace) to common people, who have no source of wages. In such economy system, leisured elite is entertained, a class of bureaucrats, and a class of subsistence farmers.

Books on Palace economy

Book 1 –

Economy and Politics in the Mycenaean Palace States Edited by Sofia Voutsaki, John Tyrell Killen (published by Cambridge Philological Society, 2001)

Book 2 –

The Ancient Economy: Evidence and Models Edited by Joseph Gilbert Manning, Ian Morris (published by Stanford University Press, 2007)

How Palace economy works?

Examples go like this, ancient Mycenaean, Cretan and Minoan societies, Ancient Egypt, Mesopotamia, Anatolia and the Levant of Bronze age.

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