palace economy
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A palace economy is a system of economic organisation in which wealth flows out from a central source (the 'palace'),
eventually reaching the common people, who have no other source of income. The division of labour in such an economy leads to a
leisured elite, a class of bureaucrats, and a class of subsistence farmers. This system can be seen as a combination of a
Recorded examples of palace economies include the Mycenaean and Minoan societies in ancient Greece, but many other pre-industrial civilizations also used this economic model.
The contemporary
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