Phelps, Edmund, (2015), “The Foundations of Greece’s Failed Economy”, Project Syndicate, 4 September
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.
Relevant Posts
- Morley, Bruce, (2015), “Greece shows the flaws in pursuing a common monetary policy response to economic shocks across the EU”, LSE blog, 2 September.
- Boucoyannis, Deborah, (2015), “Ο μύθος του παραφουσκωμένου ελληνικού κράτους”, Foreign Affairs-The Hellenic Edition, 10 August