The Heqanakht Papyri or Heqanakht Letters (also spelled Hekanakht), written around 2,000 BCE, have been placed in historical context since 1954, per Cerny, Jareslav (1954). "Prices and Wages in Egypt in the Ramesside Period." Journal of World History, 1, 903–21. Cerny wrote for the Egyptology and Economic history communities by referencing land owners' use of well defined monetary units for hundreds of years.

In 2002, Mahmoud Ezzamel, writing from an ancient economic and accounting point of view, commented on 'observed versus expected' aspects of commodity monetary units by concluding: "Moreover, even when dealing with concrete, visible commodities, such as grain, the intervention of accounting sharpened this visibility by converting the concrete into an abstract theoretical value via the use of 'monies of account' to attain a measure of economic and social reciprocity".

Ezzamel's analysis re-constructed the accounts mentioned in the texts as a modern auditor, finding consistent numerical threads that defined a money system that fairly paid workers, less during flood (inundation) years. For example: "Record of the household's incomes: Ipi (jpj) and her servant woman 8 (heqat), Hetepet (Htp.t) and her servant woman 8 (heqat), Heti's (Ht) son Nakht (nxt) together with his dependants 8 (heqat), Merisu (mr.sw) and his dependants 8 (heqat), Sahathor (zA-Hwt-Hr) 8 (heqat), Sanebnut (ZA-nb-n'.t) 7 (heqat), Anpu (jnp) 4 (heqat), Snefru (snfr.w) 4 (heqat), Sa-inut (zA-jnw.t) 4 (heqat), Mai-sa-hetepet (may-zA-Htp.t) 5 (heqat), Nofret (nfr.t) 3½ (heqat), Satwerut (zA.t-wr.wt) (?) 2 (heqat): Total 79½ (heqat)").

Land owners, renters, profits, and a 10% tax rate were also paid to Pharaoh in the commodity/metals monetary system. For example, the text reports "Furthermore behold, 15 sacks of emmer are in the possession of Nenek-su (nnk-sw) at Hut-haa (Hw.t-hAA) and 13 (sacks ?) and 5 (bushels ?) of Lower Egyptian barley are in the possession of Ipi the Younger (jpj-Xrd) at Yusebek (jw-sbk). That which is in the possession of Neher's (nHr) son Ipi (jpj) at Sepat-mat (spA.t-mA.t) (amounts to) 20 (sacks of) emmer and (in the possession of) his brother Desher (dSr) 3 (sacks). The total is 38 (sacks of emmer and) 13 (sacks) and 5 (bushel ?) (of Lower Egyptian barley). Concerning anyone who will give me oil in payment - he shall give me 1 hbn.t-jar for 2 (sacks) of Lower Egyptian barley or for 3 (sacks) of emmer".

Also in 2002 James P. Allen wrote a general readership book on the Heqanakht papyri. Morris Silver, Professor Emeritus, Department of Economics, City College of the City University of New York fairly reviewed macro and micro aspects of the commodity wages paid to estate workers, and other commodity monetary transactions, cited in the Heqanakht papers. One political aspect included a form of court, run by a local representative of Pharaoh, in which local economic disputes were resolved.

To further discuss the significance of the papyri ancient economic thought

Ancient economic thought

In the history of economic thought, ancient economic thought refers to the ideas from people before the Middle Ages.-Ancient Near East:Economic organization in the earliest civilizations of the fertile crescent was driven by the need to efficiently grow crops in river basins...

, accountancy

Accountancy

Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in...

, and the history of Egyptian fractions, Egyptian multiplication and division

Egyptian multiplication and division

Since the 1880s, as formalized in the 1920s, an incomplete view has defined Egyptian multiplication. Springer's on-line encyclopedia summarizes the 1920s view this way :...

 can be studied. For example, accounting during the Egyptian Middle Kingdom used a double entry system within expected and observed (practical zero totals). A zero symbol denoted an empty account. The Akhmim Wooden Tablet

Akhmim wooden tablet

The Akhmim wooden tablets or Cairo wooden tablets are two ancient Egyptian wooden writing tablets. They each measure about 18 by 10 inches and are covered with plaster. The tablets are inscribed on both sides. The inscriptions on the first tablet includes a list of servants, which is followed...

, the Egyptian Mathematical Leather Roll

Egyptian Mathematical Leather Roll

The Egyptian Mathematical Leather Roll was a 10 × 17 in leather roll purchased by Alexander Henry Rhind in 1858...

, the RMP 2/n table, the Rhind Mathematical Papyrus

Rhind Mathematical Papyrus

The Rhind Mathematical Papyrus , is named after Alexander Henry Rhind, a Scottish antiquarian, who purchased the papyrus in 1858 in Luxor, Egypt; it was apparently found during illegal excavations in or near the Ramesseum. It dates to around 1650 BC...

, the Ebers Papyrus

Ebers papyrus

The Ebers Papyrus, also known as Papyrus Ebers, is an Egyptian medical papyrus dating to circa 1550 BC. Among the oldest and most important medical papyri of ancient Egypt, it was purchased at Luxor, in the winter of 1873–74 by Georg Ebers...

 and other mathematical texts reported expected and observed Egyptian fractions totals. Totals were written in quotients and scaled/unscaled remainder units. A meta context of the Egyptian Middle Kingdom weights and measures system had empowered one of the earliest Ancient Near East

Ancient Near East

The ancient Near East was the home of early civilizations within a region roughly corresponding to the modern Middle East: Mesopotamia , ancient Egypt, ancient Iran The ancient Near East was the home of early civilizations within a region roughly corresponding to the modern Middle East: Mesopotamia...

monetary systems. The Egyptian economy was able to double check it management elements by using double entry accounting, and theoretical/abstract weights and measures units.

External links

• http://www.reshafim.org.il/ad/egypt/texts/heqanakht.htm, the text
• http://www3.interscience.wiley.com/journal/120118222/abstract?CRETRY=1&SRETRY=0 Mahmoud Ezzamel
• http://eh.net/bookreviews/library/0868, James P. Allen
• http://ahmespapyrus.blogspot.com/2009/01/ahmes-papyrus-new-and-old.html Ahmes Papyrus, Updated
• http://planetmath.org/encyclopedia/AhmesBirdFeedingRateMethod.html, Ahmes' inventory control method
• http://members.tripod.com/~sondmor/index-24.html, was Greek coinage first?
• http://www.amazon.com/Economic-Structures-of-Antiquity/dp/B000PY3KRQ, earlier uses of weighed metals as money
• http://www.math.buffalo.edu/mad/Ancient-Africa/mad_ancient_egypt_zero.html, nfr (Egyptian zero)
• http://www.egyptologyonline.com/Medicine.htm, list of medical texts