The poems of Homer purported to describe events of the early heroic golden age of Mycenaean Greece, but many of the economic customs Homer described were more characteristic of the late barbaric period, just before 800 B.C.(?), when the epics were supposed to have been written. The forms of government and the economy they describe were feudal, and in some respects resembled Europe's Dark Ages. ..."Gifts" often took the place of royal revenues, taxes, and payments. ...Even craftsmen were often paid for their services in "gifts". Royal revenues also were derived from the king's personal estate, the duty of personal service, tribute, the spoils of war, piracy, and cattle raids. Armies lived off plunder; conquerors were free from taxation.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "The poems of Homer purported to describe events of the early heroic golden age of Mycenaean Greece, but many of the economic customs Homer described were more characteristic of the late barbaric period, just before 800 B.C.(?), when the epics were supposed to have been written. The forms of government and the economy they describe were feudal, and in some respects resembled Europe's Dark Ages. ..."Gifts" often took the place of royal revenues, taxes, and payments. ...Even craftsmen were often paid for their services in "gifts". Royal revenues also were derived from the king's personal estate, the duty of personal service, tribute, the spoils of war, piracy, and cattle raids. Armies lived off plunder; conquerors were free from taxation." in the context of "Sidney Homer, A History of Interest Rates (1963) p. 32." to mean that wisdom is timeless.