Ancient Economic Thought - Ancient Greco-Roman World - Hesiod

Hesiod

... Through work men grow rich in flocks and substance ... — Hesiod

In the opinion of the Austrian school of economics the first economist is thought to be Hesiod, by the fact of his having written on the fundamental subject of the scarcity of resources, in Works and Days. His contribution to economic thought is at least in his relevancy to the practice of economical activity in the depositing and lending of grain, as his writings are "... the chief resource for details as to Grecian agriculture ..." and that according to Loudon (1825) he provided " ... directions for the whole business of family economy in the country".