Hesiod’s Theory of Economic History

In verses 109-201 of “Works and Days” Hesiod develops a narrative of the past as well as the current and future developments of the human race. In this paper, this description is interpreted as a theory of economic history. Actually, Hesiod puts forward four stages of economic history, calling them races (γένος). However, he inserts a race of heroes, which includes all those who fought in the battle of Troy and the Seven Against the Thebes. He also mentions another race which will come after the race that he himself was living. Even though in the relevant literature five Hesiodic races are mentioned, Hesiod made reference to six. Four in the past, one in the present and another one positioned in the future. Past, present and future is what history is all about and therefore an important part of economic history.