The Foundations of Greece’s Failed Economy
Too many politicians and economists blame austerity for the collapse of the Greek economy. But the data show neither marked austerity by historical standards nor government cutbacks severe enough to explain the huge job losses; instead, they show economic ills rooted in the values and beliefs of Greek society.
https://prosyn.org/a0XzqAk
NEW YORK – Too many politicians and economists blame austerity – urged by Greece’s creditors – for the collapse of the Greek economy. But the data show neither marked austerity by historical standards nor government cutbacks severe enough to explain the huge job losses. What the data do show are economic ills rooted in the values and beliefs of Greek society.