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Athenian fiscal expansionary policy and peace versus war strategy

Economou, Emmanouel/Marios/Lazaros and Kyriazis, Nicholas (2015): Athenian fiscal expansionary policy and peace versus war strategy.

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In the present essay, we develop at first a model of choice by actors to show how a society can take decisions on specific issues according to how flexible or rigid it is in new ideas and trends. Then, by utilizing game theory we explain how the Athenian society abandoned war in favour of a peace grand strategy during the second half of the 4th century BCE. To achieve this, two visionary Athenian policymakers Eubulus and Lycurgus introduced fiscal expansionary policy programs which proved beneficial for the majority of the citizens. We found that through the expansionary public works programs, the Athenian citizens were taking decisions based on rational choice according to a wider economic prospective.

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