The Economic and Political Crisis in Greece

1
asset_shareyourfavoriteshow_post

Greece is in economic shambles and the resulting social costs are mounting. Since the Eurozone imposed economic measures to assure Greece’s survival, the situation is become markedly worse with little hope in sight if the present course is maintained. Does austerity lead to recovery? Are people better-served when governments sell their assets to private concerns? Do tax cuts for the rich return investment and jobs to the community? Are nations more competitive when workers rights are eliminated?

This is a cautionary tale about how economic ideologies can destroy a nation. To this day, the economics imposed upon Greece are being promoted for the United States. Who benefits? Is it good for a nation?

www.LevyInstitute.org

This show sponsored in part by
ad_mosaicfoundation_468x60
ad_support_170x60

 

Share.

About Author

Profile photo of Tim Danahey

The Tim Danahey Show started in July, 2010 at internet station Castle Rock Radio. It started as a one-day-per week endeavor and quickly grew to five days per week. The show discusses economics, government, social issues, history, and non-fiction books in a magazine format featuring in-depth conversations with guests. Politics and inflammatory conversations are discouraged as they are divisive and counter-productive. Instead, the show seeks under-reported topics and delves into facts, different perspectives, and ramifications of each perspective.

Comments

  1. Interesting interview. However, I am surprised that it was not mentioned as to why there is a fundamental issue in the Greek economy beyond the Eurozone membership issue. 

    Historically, many of the Greek citizens did not pay any taxes. A large part of the population works off the record. They are not paid with payroll that withholds government taxes. It is a cash based economy. People barter and pay cash. The government cannot finance itself basic services and now the increased debt to the Euro Banks. Property tax records and land ownership is very distributed, records are held in local churches, and land is handed down generation to generation. There are many people paying property taxes for the first time. The problem is much larger than the Euro issue. We can also learn from this lesson about not taxing the underground economy.

    I am of 100% Greek descent and speak to this issue with some relevant firsthand knowledge.