What would have happened had we asked our Poet Laureate to govern rather than (or perhaps as well as) write poems during the credit crunch? I am reminded of another credit crunch about 2,500 years ago. This was in Athens around 594 BC — about 650 years before the Romans founded London as a civitas. Back in Athens we find a poet, Solon (638-558 BC), who, from a modest aristocratic descent, bursts into the scene of Athenian politics around 600 BC with a rousing poem about the war with Megara — another Greek city — over the island of Salamis. So rousing this poem was that Athenians apparently won the war.
Yet it turns out that the war was both an escape from and the cause of real troubles — all wars can make that claim. These troubles concerned the fact that many soldiers perished during the war were poor peasants who were not represented in the assembly (ecclesia), which was the exclusive domain aristocratic warrior-citizens. Many peasants were poor mostly because they cultivated the land as loans from aristocratic warriors.
At this time Athens was governed as an oligarchy and aristocratic families held land indefinitely. While land was inalienable the right to use it could be mortgaged. Peasants could receive loans by sharing their rights to the product of the land. The peasant-debtor ‘agreed’ to cultivate the land as hektemor, or sixth-partner, surrendering five-sixths of the product to the aristocrat-creditor and retaining the rest. Such mortgaged land was physically marked by horoi, or mortgage stones as concrete symbols of mortgage slavery.
There had been ongoing struggles by peasants to free themselves from mortgage slavery but the situation was exacerbated by the war as many peasants fell into abject poverty and faced debt enslavement (sold as slaves). So there was really a credit crunch in the sense that peasants defaulted on their loans and were sold as slaves. The problem was to find peasants who would cultivate the land and generate income for aristocrats. (Going to war with credit never seems to work.)
Then Solon was elected archon, or governor, c. 594 BC. His first act was to free the land and destroy the horoi. His act, known as the seisachtheia, or ‘shaking-off of the burdens,’ cancelled all debts, freed the peasants and gave land to its cultivators. Solon’s second act was the ban on the mortgaging of land and mortgage slavery.
This was a bold act. Solon not only canceled all debt (which was not incurred as money) but he also abolished enslavement for debt, destroying the horoi. This act of destroying the horoi became a symbol of liberation. Solon’s reform was retrospective as well as prospective: he brought back people from overseas slavery who no longer spoke the Attic language.
More importantly, as Gregory Vlastos taught us long time ago, Solon’s act was much more than cancelling debts. Until then aristocrats had claimed the giving of justice as their exclusive prerogative. But Solon made justice -- or rather claiming justice -- an essential aspect of everyday rather than divine politics.
Could the government have not shaken off of all the mortgages owed by the poor? Could it not have abolished mortgage slavery? Instead, by part-nationalising banks, the government essentially mortgaged our future by bailing them out. So rather than shaking off of the burden of the poor our government actually doubled it. Perhaps we should rethink the remit of our Poet Laureate.
Solon’s Fragments 30, 31
“...Whereas I, before the people had attained to any of the things for the sake of which they had drawn my chariot, brought it to a standstill. A witness I have who will support this claim full well in the tribunal of Time --the mighty mother of the Olympian deities, black Earth, from whose bosom once I drew out the pillars everywhere implanted; and she who was formerly enslaved is now free. Many men I restored to Athens, their native divinely-founded, men who justly or unjustly had been sold abroad, and other who through pressure of need had gone into exile, and who through wanderings far and wide no longer spoke the Attic tongue. Those here at home who were reduced to shameful slavery, and trembled at the caprices of their masters, I made free. These things I wrought by main strength, fashioning that blend of force and justice that is law, and I went through to the close as I had promised.”
From p. 215 of The Work and Life of Solon: With a Translation of His Poems by Kathleen Freeman
Find Out More
‘Solon, the Horoi and the Hektemoroi’ by G.E.M. de Ste. Croix
in Athenian Democratic Origins and Other Essays, edited by David Harvey, Robert Parker and Peter Thonemann, published by Oxford University Press
The Work and Life of Solon: With a Translation of His Poems by Kathleen Freeman
published by The University of Wales Press
‘Solonian Justice’ by Gregory Vlastos
in Studies in Greek Philosophy, edited by Daniel W. Graham
published by Princeton University Press
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Categories: Politics, Capitalism, Law
Tags: debt, government, history, politics, poverty, slavery, war











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