Seaford, Richard. "The Greeks and Money." TLS June 17, 2009.

As I argued some years ago in Money and the Early Greek Mind (2004), the pivotal position of the Greeks in world culture stems largely from the fact that the sixth-century polis was the first society in history (with the conceivable exception of China) to be pervaded by money. Coinage was invented towards the end of the seventh century BC, and spread rapidly in the Greek city-states from the beginning of the sixth. Did not the Babylonians, for instance, use silver as money well before that? On any sensibly narrow definition of money, no they did not. This new and revolutionary phenomenon of money itself underpinned and stimulated two great inventions in the Greek polis of the sixth century, “philosophy” and tragedy. “Philosophy” (or rather idea of the cosmos as an impersonal system) was first produced in the very first monetized society, early sixth-century Ionia, and – even more specifically – in its commercial centre Miletos. The tendency of pre-modern society to project social power onto cosmology (for example, “king Zeus rules the world”) applies to the new social power of money. And the following description applies equally to money and to much of the cosmology of the early philosophers: universal power resides not in a person but in an impersonal, all-underlying, semi-abstract substance. But the relationship of money and tragedy is no less striking. Tragedy was created shortly after the introduction into Athens of coinage. This – though it has no place in the voluminous literature on the subject – seems to me one of the most important facts about tragedy. Greek myth is, of course, largely pre-monetary, but in tragedy it is shaped by the new all-pervasive power of money. It is not only the obsession with money of some tragic tyrants (Oedipus, for example) that I have in mind. An entirely new feature of money is that its possession renders unnecessary in principle all pre-monetary forms of social relationship: reciprocity, redistribution, kinship, ritual, and so on. Money allows you to fulfil all your needs. It provides the power to increase itself. And it tends to promote predatory isolation. Hence the focus of much Athenian tragedy on the extreme isolation of the individual – from the gods and even (through killing) from his closest kin. I know of no precedent for this in literature, certainly not in the pre-monetary society depicted in Homer. This horrifying possibility is embodied in the figure of the tyrant (turannos), who in historiographic, philosophical and tragic texts characteristically kills his own kin, violates the sacred, and is much concerned with money as a means of power. The word “hero”, the preoccupation of so much critical literature on the subject, barely occurs in Athenian tragedy, but turannos (or some form of that word) occurs over 170 times. . . . Read the rest here: http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/the_tls/article6518502.ece.