Conclusions

This introductory chapter summarizes the core findings of our research. It concludes that the success of the Athenian system of governance should be attributed to a sophisticated package of economic and political institutions that were wisely implemented by the Athenians. This package included: (i) democratic governance (direct/participatory democracy) as a prerequisite for institutional change (ii) a market-oriented maritime economy based on advanced financial services (iii) the development, in practice, of advanced institutions regarding public administration (iv) the establishment of advanced auditing mechanisms of public magistrates that secured efficiency in public administration and the smooth functioning of the market (v) the rule of law which proved highly supportive of the commercial activity of the polisPolis (vi) fast administration of justice (vii) an excellent blend of cooperation between the state and the private sector (viii) the provision of a series of public goods that increased the prosperity of the citizens (ix) establishing the optimal blend between elected and appointed public magistrates (x) establishing an effective system of paideia x) A religion that characterized by tolerance. We further argue that these institutions (that also function as values) have an intertemporal character that applies also for all modern advanced economies and democratic societies around the globe.