The article describes the views of the outstanding German classical historian Eduard Meyer (1855-1930) on the economy of the ancient world, as well as his concept of the cyclical development of European history. The critical attitude of Edward Meyer to the constructions of J.-K. Rodbertus and K. Bücher, who believed that the economy of the ancient world was of a primitive nature, is noted. Ed. Meyer recognized the market character of the ancient economy during the heyday of Greece and Rome, comparing it with the capitalist economies of modern European countries. Recognizing the significant role of slavery in the economy of the ancient world, Ed. Meyer noted also the role of free wage labor and the labor of small owners. The scientist believed that slavery contributed to the development of capitalism in ancient Greece and Rome. Views of Ed. Meyer are not accepted by modern scholars, but his works greatly stimulated the study of the ancient economy and social system, which in modern science are very important areas of research.