Persia's Economic System

Persia’s advanced economic system paved the way for future economies, including our own. For instance, the introduction of gold and silver coins throughout the empire, including the daric (named after Darius I), lasted for an immense amount of time. The reason for this was its reliability over the previous trading system of economy, as the “use of gold coinage was especially important because it dominated the world as the most trusted currency thereafter for more than 2,000 years” (Miyahara). Bartering—the previous system of economy based on trade—though universal, was very inconvenient, as well as unreliable. The new money system allowed for a simpler “comparison of items being considered for purchase… because all items are given exact values”

(Ellis & Esler 42). This is how the economy works in most advanced, thriving civilizations today—goods and services are given an exact value, which is much more efficient than the alternative of the buyer and seller going through the process of arranging an exchange. Lastly, the economy of the Persian Empire was regulated by their government, as part of the bureaucracy was an economic branch in which “accountants, hamarakaras, and treasurers, ganzabaraz, were carefully selected” (Farazmand). This governmental regulation of the economy is used by nearly every advanced civilization today. In conclusion, the Persian Empire established a system of economy that would last far into history and impact a vast number of subsequent societies.