MARK MAZOWER
- Published in print:
- 1991
- Published Online:
- October 2011
- ISBN:
- 9780198202059
- eISBN:
- 9780191675126
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198202059.003.0004
- Subject:
- History, European Modern History, Economic History
This chapter charts how the slow process of development and recovery took place as Greece was reintegrated within an open trading and monetary international order. Topics discussed include land ...
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This chapter charts how the slow process of development and recovery took place as Greece was reintegrated within an open trading and monetary international order. Topics discussed include land reform, agricultural trends, the growth and structure of Greek industry, and reconstruction of public finances.Less
This chapter charts how the slow process of development and recovery took place as Greece was reintegrated within an open trading and monetary international order. Topics discussed include land reform, agricultural trends, the growth and structure of Greek industry, and reconstruction of public finances.
Christine Agriantoni
- Published in print:
- 2006
- Published Online:
- September 2012
- ISBN:
- 9780748624782
- eISBN:
- 9780748671267
- Item type:
- chapter
- Publisher:
- Edinburgh University Press
- DOI:
- 10.3366/edinburgh/9780748624782.003.0011
- Subject:
- History, Political History
This chapter discusses Venizelos' economic policies. Venizelos' first four-year term (1910–14) in power is distinguished by the dynamism and the strong will of a leader, whose personality was still ...
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This chapter discusses Venizelos' economic policies. Venizelos' first four-year term (1910–14) in power is distinguished by the dynamism and the strong will of a leader, whose personality was still pristine, and of the new political personnel who surrounded him. The heralded ‘recovery’ had a dual content: economic development — ‘our policy for the development of agriculture and wealth in general’, as he himself characterised it — and social justice: on this issue, with obvious political aim, Venizelos concurrently gave shape to the diffuse social protest which had been manifested in many ways in the conjuncture of the military mutiny of 1909, which had also brought him to power. The 1917–20 period, which corresponds to the stepping-up of the war effort, represents a critical turning point. The liberal management was abolished de facto, albeit provisionally. State control of the economy expanded significantly, new views on the Greek economy began to take shape, while attitudes to social protest hardened decisively.Less
This chapter discusses Venizelos' economic policies. Venizelos' first four-year term (1910–14) in power is distinguished by the dynamism and the strong will of a leader, whose personality was still pristine, and of the new political personnel who surrounded him. The heralded ‘recovery’ had a dual content: economic development — ‘our policy for the development of agriculture and wealth in general’, as he himself characterised it — and social justice: on this issue, with obvious political aim, Venizelos concurrently gave shape to the diffuse social protest which had been manifested in many ways in the conjuncture of the military mutiny of 1909, which had also brought him to power. The 1917–20 period, which corresponds to the stepping-up of the war effort, represents a critical turning point. The liberal management was abolished de facto, albeit provisionally. State control of the economy expanded significantly, new views on the Greek economy began to take shape, while attitudes to social protest hardened decisively.
Costas Meghir, Christopher A. Pissarides, Dimitri Vayanos, and Nikolaos Vettas
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780262035835
- eISBN:
- 9780262339216
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262035835.003.0001
- Subject:
- Economics and Finance, International
This chapter reviews the performance of the Greek economy before and during the global financial crisis. It also presents policy options for Greece going forward, drawing to a significant extent on ...
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This chapter reviews the performance of the Greek economy before and during the global financial crisis. It also presents policy options for Greece going forward, drawing to a significant extent on the conclusions of subsequent chapters. The chapter first studies Greece's economic performance in the decades before the crisis. It discusses the evolution of gross domestic product (GDP) per capita and productivity, debt, consumption, investment, wages and prices. The chapter then turns to the quality of the institutions pertaining to the business environment (product market regulation, justice system, access to finance, and labor market regulation), and to social protection and public good provision (pensions, welfare system, health care, and education). It also identifies interconnections between institutional quality and macroeconomic outcomes.Less
This chapter reviews the performance of the Greek economy before and during the global financial crisis. It also presents policy options for Greece going forward, drawing to a significant extent on the conclusions of subsequent chapters. The chapter first studies Greece's economic performance in the decades before the crisis. It discusses the evolution of gross domestic product (GDP) per capita and productivity, debt, consumption, investment, wages and prices. The chapter then turns to the quality of the institutions pertaining to the business environment (product market regulation, justice system, access to finance, and labor market regulation), and to social protection and public good provision (pensions, welfare system, health care, and education). It also identifies interconnections between institutional quality and macroeconomic outcomes.
Alain Bresson
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9780691183411
- eISBN:
- 9781400852451
- Item type:
- book
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691183411.001.0001
- Subject:
- History, Ancient History / Archaeology
This comprehensive introduction to the ancient Greek economy revolutionizes our understanding of the subject and its possibilities. The book combines a thorough knowledge of ancient sources with ...
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This comprehensive introduction to the ancient Greek economy revolutionizes our understanding of the subject and its possibilities. The book combines a thorough knowledge of ancient sources with innovative new approaches grounded in recent economic historiography to provide a detailed picture of the Greek economy between the last century of the Archaic Age and the closing of the Hellenistic period. Focusing on the city-state, which the author sees as the most important economic institution in the Greek world, the book addresses all of the city-states rather than only Athens. An expanded and updated English edition of an acclaimed work originally published in French, the book offers a ground-breaking new theoretical framework for studying the economy of ancient Greece; presents a masterful survey and analysis of the most important economic institutions, resources, and other factors; and addresses some major historiographical debates. Among the many topics covered are climate, demography, transportation, agricultural production, market institutions, money and credit, taxes, exchange, long-distance trade, and economic growth. The result is an unparalleled demonstration that, unlike just a generation ago, it is possible today to study the ancient Greek economy as an economy and not merely as a secondary aspect of social or political history. This is essential reading for students, historians of antiquity, and economic historians of all periods.Less
This comprehensive introduction to the ancient Greek economy revolutionizes our understanding of the subject and its possibilities. The book combines a thorough knowledge of ancient sources with innovative new approaches grounded in recent economic historiography to provide a detailed picture of the Greek economy between the last century of the Archaic Age and the closing of the Hellenistic period. Focusing on the city-state, which the author sees as the most important economic institution in the Greek world, the book addresses all of the city-states rather than only Athens. An expanded and updated English edition of an acclaimed work originally published in French, the book offers a ground-breaking new theoretical framework for studying the economy of ancient Greece; presents a masterful survey and analysis of the most important economic institutions, resources, and other factors; and addresses some major historiographical debates. Among the many topics covered are climate, demography, transportation, agricultural production, market institutions, money and credit, taxes, exchange, long-distance trade, and economic growth. The result is an unparalleled demonstration that, unlike just a generation ago, it is possible today to study the ancient Greek economy as an economy and not merely as a secondary aspect of social or political history. This is essential reading for students, historians of antiquity, and economic historians of all periods.
Costas Meghir, Christopher A. Pissarides, Dimitri Vayanos, and Nikolaos Vettas (eds)
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780262035835
- eISBN:
- 9780262339216
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262035835.001.0001
- Subject:
- Economics and Finance, International
More than eight years after the global financial crisis began, the economy of Greece shows little sign of recovery, and its position in the eurozone seems tenuous. Between 2008 and 2014, incomes in ...
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More than eight years after the global financial crisis began, the economy of Greece shows little sign of recovery, and its position in the eurozone seems tenuous. Between 2008 and 2014, incomes in Greece shrank by more than 25 percent, homes lost more than a third of their value, and the unemployment rate reached 27 percent. Most articles on Greece in the media focus on the effects of austerity, repayment of its debt, and its future in the eurozone. In this book, leading Greek economists from institutions both within and outside Greece take a broader and deeper view of the Greek crisis, examining the pathologies that made Greece vulnerable to the crisis and the implications for the entire eurozone. Each chapter takes on a specific policy area, examining it in terms of Greece's economic reality and offering possible directions for policy. The topics range from macroeconomic issues to markets and their regulation to finance to the public sector. Individual chapters address the costs and benefits of participation in the eurozone, Greece's international competitiveness, taxation, pensions, the labor market, privatization, product markets, finance, education, healthcare, corruption, the justice system, and public administration. The contributors argue that Greek institutions require a deep overhaul rather than quick fixes to enable long-term growth and prosperity.Less
More than eight years after the global financial crisis began, the economy of Greece shows little sign of recovery, and its position in the eurozone seems tenuous. Between 2008 and 2014, incomes in Greece shrank by more than 25 percent, homes lost more than a third of their value, and the unemployment rate reached 27 percent. Most articles on Greece in the media focus on the effects of austerity, repayment of its debt, and its future in the eurozone. In this book, leading Greek economists from institutions both within and outside Greece take a broader and deeper view of the Greek crisis, examining the pathologies that made Greece vulnerable to the crisis and the implications for the entire eurozone. Each chapter takes on a specific policy area, examining it in terms of Greece's economic reality and offering possible directions for policy. The topics range from macroeconomic issues to markets and their regulation to finance to the public sector. Individual chapters address the costs and benefits of participation in the eurozone, Greece's international competitiveness, taxation, pensions, the labor market, privatization, product markets, finance, education, healthcare, corruption, the justice system, and public administration. The contributors argue that Greek institutions require a deep overhaul rather than quick fixes to enable long-term growth and prosperity.
Alain Bresson
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9780691183411
- eISBN:
- 9781400852451
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691183411.003.0001
- Subject:
- History, Ancient History / Archaeology
This chapter describes the conceptual framework used by the book to study the economy of ancient Greece. It begins with a discussion of the debate between “primitivists,” represented by Karl Bücher, ...
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This chapter describes the conceptual framework used by the book to study the economy of ancient Greece. It begins with a discussion of the debate between “primitivists,” represented by Karl Bücher, and “modernists,” represented by Eduard Meyer, over the nature of the ancient Greek economy. It considers Bücher's adherence to the so-called German Historical School of Political Economy and goes on to examine the views of Moses I. Finley and Max Weber regarding the ancient economy, Karl Polanyi's use of institutionalism as an approach to the study of the ancient economy, and the main assumptions of New Institutional Economics (NIE) with regard to the genesis and evolution of institutions. The chapter also analyzes the transaction costs theory and concludes with an assessment of criticisms against the classical economists' economic agent, the homo economicus, and the influence of constrained choices and limited rationality on economic performance.Less
This chapter describes the conceptual framework used by the book to study the economy of ancient Greece. It begins with a discussion of the debate between “primitivists,” represented by Karl Bücher, and “modernists,” represented by Eduard Meyer, over the nature of the ancient Greek economy. It considers Bücher's adherence to the so-called German Historical School of Political Economy and goes on to examine the views of Moses I. Finley and Max Weber regarding the ancient economy, Karl Polanyi's use of institutionalism as an approach to the study of the ancient economy, and the main assumptions of New Institutional Economics (NIE) with regard to the genesis and evolution of institutions. The chapter also analyzes the transaction costs theory and concludes with an assessment of criticisms against the classical economists' economic agent, the homo economicus, and the influence of constrained choices and limited rationality on economic performance.
Ashoka Mody
- Published in print:
- 2018
- Published Online:
- May 2018
- ISBN:
- 9780199351381
- eISBN:
- 9780190873721
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780199351381.003.0007
- Subject:
- Economics and Finance, International, Macro- and Monetary Economics
This chapter studies the cases of Greece and Ireland in 2010. Amidst the raging global financial crisis, the Greek economy appeared to have held up well. However, every informed observer knew that ...
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This chapter studies the cases of Greece and Ireland in 2010. Amidst the raging global financial crisis, the Greek economy appeared to have held up well. However, every informed observer knew that Greece's statistical data was appalling—and too often deliberately misleading. It was later revealed that Greek debt was above 110 percent of GDP, and, with large deficits, debt was piling up rapidly. The chapter then looks at the Irish crisis, which had been building since late-September 2008. To persuade creditors to continue to fund Irish banks, the government had guaranteed that it would repay their debts if the banks themselves were unable do so. Irish banks had made bad lending decisions and had made huge losses. If not already bankrupt, they were heading to bankruptcy as property prices had continued to fall.Less
This chapter studies the cases of Greece and Ireland in 2010. Amidst the raging global financial crisis, the Greek economy appeared to have held up well. However, every informed observer knew that Greece's statistical data was appalling—and too often deliberately misleading. It was later revealed that Greek debt was above 110 percent of GDP, and, with large deficits, debt was piling up rapidly. The chapter then looks at the Irish crisis, which had been building since late-September 2008. To persuade creditors to continue to fund Irish banks, the government had guaranteed that it would repay their debts if the banks themselves were unable do so. Irish banks had made bad lending decisions and had made huge losses. If not already bankrupt, they were heading to bankruptcy as property prices had continued to fall.
Yannis Katsoulacos, Christos Genakos, and George Houpis
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780262035835
- eISBN:
- 9780262339216
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262035835.003.0004
- Subject:
- Economics and Finance, International
This chapter examines the competitiveness of product markets in Greece. One of the main determinants of competitiveness is the quality of the set of rules and regulations that govern the operation of ...
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This chapter examines the competitiveness of product markets in Greece. One of the main determinants of competitiveness is the quality of the set of rules and regulations that govern the operation of markets. These should promote competition, investment and entrepreneurship. Heavy and low-quality regulation is generally associated with greater inefficiency and poor economic outcomes. This chapter describes competitiveness in the Greek economy and its evolution over time using various internationally comparable indicators that cover many dimensions of competitiveness. It demonstrates that product markets in Greece are among the most heavily and misregulated markets of advanced countries, though the reforms that took place during 2011–2014 had a positive impact. The chapter investigates in greater depth the misregulation of product markets, identifying possible causes and illustrating through case studies. It makes the case for a National Competition and Competitiveness Policy plan to improve the regulatory institutions and reduce regulatory burden. Finally, it looks at the successes and failures of regulatory reform history in two important markets: energy and telecommunications.Less
This chapter examines the competitiveness of product markets in Greece. One of the main determinants of competitiveness is the quality of the set of rules and regulations that govern the operation of markets. These should promote competition, investment and entrepreneurship. Heavy and low-quality regulation is generally associated with greater inefficiency and poor economic outcomes. This chapter describes competitiveness in the Greek economy and its evolution over time using various internationally comparable indicators that cover many dimensions of competitiveness. It demonstrates that product markets in Greece are among the most heavily and misregulated markets of advanced countries, though the reforms that took place during 2011–2014 had a positive impact. The chapter investigates in greater depth the misregulation of product markets, identifying possible causes and illustrating through case studies. It makes the case for a National Competition and Competitiveness Policy plan to improve the regulatory institutions and reduce regulatory burden. Finally, it looks at the successes and failures of regulatory reform history in two important markets: energy and telecommunications.
Alain Bresson
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9780691183411
- eISBN:
- 9781400852451
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691183411.003.0008
- Subject:
- History, Ancient History / Archaeology
This chapter examines the logic of growth in the Greek city-states. It first considers the relationship between self-consumption and economic growth, focusing on the roles played by self-consumption ...
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This chapter examines the logic of growth in the Greek city-states. It first considers the relationship between self-consumption and economic growth, focusing on the roles played by self-consumption and the market in agriculture and in the ancient Greek economy more generally. It then explains how the Greek cities managed to become the dominant culture in the Mediterranean between about 700 BCE and 300 BCE after experiencing negative growth at the end of the Bronze Age and probably very slow growth during the Early Iron Age. It also explores the notion that the ancient Greek economy did not manage to achieve “capitalist revolution” or “industrial revolution”; the economic impact of technological innovation; and how innovation is associated with supply and demand. The chapter concludes with an analysis of the transition to modernity, arguing that such transition makes ancient Greece's economic history part of the long history of the western world.Less
This chapter examines the logic of growth in the Greek city-states. It first considers the relationship between self-consumption and economic growth, focusing on the roles played by self-consumption and the market in agriculture and in the ancient Greek economy more generally. It then explains how the Greek cities managed to become the dominant culture in the Mediterranean between about 700 BCE and 300 BCE after experiencing negative growth at the end of the Bronze Age and probably very slow growth during the Early Iron Age. It also explores the notion that the ancient Greek economy did not manage to achieve “capitalist revolution” or “industrial revolution”; the economic impact of technological innovation; and how innovation is associated with supply and demand. The chapter concludes with an analysis of the transition to modernity, arguing that such transition makes ancient Greece's economic history part of the long history of the western world.
Gelina Harlaftis
- Published in print:
- 1995
- Published Online:
- September 2018
- ISBN:
- 9780969588580
- eISBN:
- 9781786944856
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.5949/liverpool/9780969588580.003.0006
- Subject:
- History, Maritime History
This essay surveys the range of Greek maritime research studied over the last twenty years and explores the development of maritime history within the context of political, social and economic ...
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This essay surveys the range of Greek maritime research studied over the last twenty years and explores the development of maritime history within the context of political, social and economic history in Greece. It also strives to examine the main vehicles of historical research, research institutes, historical journals and museums, and determines the main problems encountered by researchers.Less
This essay surveys the range of Greek maritime research studied over the last twenty years and explores the development of maritime history within the context of political, social and economic history in Greece. It also strives to examine the main vehicles of historical research, research institutes, historical journals and museums, and determines the main problems encountered by researchers.
Michael Mitsopoulos and Theodore Pelagidis
- Published in print:
- 2013
- Published Online:
- May 2014
- ISBN:
- 9780199327829
- eISBN:
- 9780199388110
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199327829.003.0012
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter examines the Greek economic crisis and confirms that its causes are deeply rooted in the way the country has been run over the past thirty years. It shows that Greek governments chose, ...
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This chapter examines the Greek economic crisis and confirms that its causes are deeply rooted in the way the country has been run over the past thirty years. It shows that Greek governments chose, over these past decades, to gradually turn the Greek economy into an uncompetitive conundrum of excessive, rigid, and vague regulations that distributed rents to well-organized interest groups, thus creating a fertile breeding ground for corruption and abuse of office and public money. The result was the creation and consolidation of various constituencies with strong incentives (and the capacity) to oppose corrective reforms, which, in turn, pushed the country into deep crisis in 2010.Less
This chapter examines the Greek economic crisis and confirms that its causes are deeply rooted in the way the country has been run over the past thirty years. It shows that Greek governments chose, over these past decades, to gradually turn the Greek economy into an uncompetitive conundrum of excessive, rigid, and vague regulations that distributed rents to well-organized interest groups, thus creating a fertile breeding ground for corruption and abuse of office and public money. The result was the creation and consolidation of various constituencies with strong incentives (and the capacity) to oppose corrective reforms, which, in turn, pushed the country into deep crisis in 2010.
