Does anyone have any ideas on how the economy of Celene, as a faerie-dominated Kingdom, would differ from the states of the surrounding Flanaess?
I keep returning to this question, and my intuition says Celene would have dramatically different economics than the human states, or even the Ulek states, given the latter's close association with Keoland.
But I don't know enough about economics, especially faux-Medieval economics, to truly imagine what that economy might look like.
We know from the LGG that there is currency there, of the usual types, and since there's a sort of underclass of gnomes, halflings, half-elves, and humans probably a more traditional, perhaps underground, economy happens there too.
But do you think the faerie citizens of Enstad are actually paying each other for everything like good little capitalists?
(I haven't studied economics in about thirty years, so please tread gently, jargon-wise, if you're more current.)
The typical medieval economy would definitely exist, for the reasons you mentioned and because it becomes necessary as a population grows too large for a system based on barter to work. But, since elves are a much longer-lived race than others, the upper classes would likely have an alternative economy similar to barter, but based upon providing high-end goods and services to other elven members of that society.
For example, a thousand-year old harp maker may be commissioned to craft a special instrument for a noble client. Since crafting such an instrument requires the growing of a special tree that is guided in its growth into a specific form, it will take years of effort to produce such a product. As part of the payment for such a commission, the noble may provide constant supplies of food to be sent to the craftsman, or even provide the craftsman with living quarters until the work is complete. This is similar to nobles hiring composers as retainers/hirelings in the real world. If the person hiring the craftsman had skills of their own, they may very well use those skills on behalf of the craftsman instead of providing a tangible item in exchange.
Such a system of exchange would be used for high-end items and services and would take years to complete.
I decided to post as an 'answerer' for once instead of always being the one to ask for input. I am no historian whatsoever (but hang out with a whole bunch of history teachers and consider myself to hold my own on such matters), but I like the direction that SirXaris was going.
Elves aren't necessarily motivated by money per se' (not to say, they don't want coin, mind you, as a means to get what possessions they desire), but they are fond of fine works of craftsmanship, art, food and wines, and the like. If you have access to it, get your hands on "The Complete Book of Elves." It might give you some insight into the mindset of elvenkind.
Elves are also fond of magic, which fascinates them, so it is entirely possible that such could also be part of your economy. Elven wizards and priests could utilize their magical works to add to the economic system, so long as it doesn't violate the clerics' ethos. Crafting magic items or casting spells to further the elven way of life and society (or pay off a tax or tithe), are other potential ideas.
Elves aren't necessarily motivated by money per se' (not to say, they don't want coin, mind you, as a means to get what possessions they desire), but they are fond of fine works of craftsmanship, art, food and wines, and the like. If you have access to it, get your hands on "The Complete Book of Elves." It might give you some insight into the mindset of elvenkind.
I'd like to second this. I've read through the Complete Book of Elves at least once. It's cheep on Drivethru. Also, you may find the elf section Races of the Wild to be helpful.
Elves are long lived. They age 1 year for every twenty that passes in our world. Therefore, they have a different perspective on their economy than we do. They may cultivate trees with a different mindset than we do, for instance.
These are good ideas, thanks. What feels right, to extend Sir Xaris' idea, is that the faerie economy is almost entirely a gift/barter exchange, due to the smaller, manageable number of elves, while the national currency is used for any transactions involving humans, gnomes, etc.
This would surely engender some rancorousness among non-elves for the particulars and terms of exchange wouldn't be obvious to others, so to, say, human eyes it would appear (to paraphrase the old Eddie Murphy sketch on SNL) that elves are always just giving each other things, but then as soon as a human enters the scene, suddenly money is required for transactions.
My take on the wood elves of Celene is that they're mainly sequestered in the northeast forests (Gnarley & Welkwood) and probably have their own, more primitive barter economy amongst themselves. This perhaps introduces complications when a wood elf visits the rest of the country in their dealings with the faeries.
I like the Complete Book of Elves a lot, but I do think it feels almost as though it were written by an elf, proselytizing all things elven as superior to other races. I want to take some of the Tolkien sheen off Oerth's elves and investigate the ways they might annoy and enrage others, or even accidentally promote inequities without any intention of doing so.
This would surely engender some rancorousness among non-elves for the particulars and terms of exchange wouldn't be obvious to others, so to, say, human eyes it would appear (to paraphrase the old Eddie Murphy sketch on SNL) that elves are always just giving each other things, but then as soon as a human enters the scene, suddenly money is required for transactions.
Further, elves growing up in a society that barters fine goods and services amongst each other would learn to assess the value of such goods and services inherently, without needing much thought. There wouldn't even be much, if any, haggling involved. One elf would simply approach another and request a product or service that was needed. The other would provide the service and request a good or service that elf could provide when s/he needed it. The return prouct/service/favor may not even be requested for years or decades, but such a long-lived race would find such a system easy enough to keep tabs on.
Obviously, this wouldn't be an effective method of payment/repayment when dealing with shorter-lived races.
—One might also ask “who pays for” the other apparently prosperous societies like Rivendell and Lothlorien. Well, if Bilbo’s money is invested in gilt-edged securities issued by Goldman Took, then presumably similar investments keep Lothlorien going. That’s the great thing about being functionally immortal – compound interest. Which, of course, is clearly why Galadriel is so certain that the destruction of the Ring will lead to the diminishing of the Elves. She’s dependent on being able to continually reinvest in short-term high-interest bonds. While Mordor threatens the West, and blocks travel to the great capital markets of Rhun and Near Harad, the credit markets of Gondor and Arnor are starved of investment, interest rates remain high, and Lothlorien profits. But as soon as the Tower of Barad-dur falls, capital will flood into the West. Interest rates will fall, and Lothlorien LLC will be priced out of the market. That’s the true tragedy of the Elves. They don’t want war and turmoil, but it does pay the bills.
—Which of course explains the real reason why the Elves of Mirkwood were so hostile to Thorin and his party. They’re on their way to kill an evil Dragon. Surely the Elves would rather like that idea? You’d expect them to speed the Dwarves on their way. Maybe give them a bit of a telling-off for trespassing at most. But no. Smaug is serving a vital function for the Elves; he’s tying up a vast amount of capital in his hoard and keeping it idle. Once the Dwarves recover it, they’ll put that money to work. Which is great for the local economies of Laketown and Dale – lots of investment, lots of infrastructure improvements, economic growth – but, again, it’ll bring interest rates down, which is bad for the Elves.
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