Abstract
Trade-Capitalism was the basic economy of the ancient city-states. Oligarchy—rule by the rich trade merchants and bankers—was the form of government that preceded democracy oligarchy predominated in the Phoenician city-states of Tyre, Sidon, and Carthage, and, oligarchy replaced aristocracy and preceded democracy in the Greek city-states, such as Athens, Croton, and Corinth. Aristotle documents all of this in his Politics and Constitution of Athens.
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Notes
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Glassman, R.M. (2021). Oligarchy, Democracy, and Tyranny in the City-States of the Ancient World. In: Can Democracy Survive in the 21st Century?. Springer, Cham. https://doi.org/10.1007/978-3-030-76821-8_2
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