tag:blogger.com,1999:blog-7631633385048306686.post3300510935959671006..comments2023-06-05T05:51:48.358-07:00Comments on stealth of nations: A big Shadow Economy is a good thingrnhttp://www.blogger.com/profile/01115499862681364911noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7631633385048306686.post-75433312881506421432010-01-08T07:18:05.872-08:002010-01-08T07:18:05.872-08:00What a great resource!What a great resource!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7631633385048306686.post-46939869131548375172009-12-30T04:58:03.148-08:002009-12-30T04:58:03.148-08:00Jim: Good question.
Here's what I've been...Jim: Good question.<br /><br />Here's what I've been able to glean from various press accounts.<br /><br />1. The riots really mark the anniversary of a spate of police violence under a prior government.<br /><br />2. Greece's economic troubles seem to stem from years of runaway government spending (far beyond the country's take in tax revenues) combined with the increased financial restrictions that have come from adopting the euro. The country cannot fashion an independent solution to its economic crisis, because some of its possible actions could drag down the value of the currency, and European leaders won't allow that.<br /><br />The point of the Deutsche Bank study was not that the Shadow Economy has saved Greece, but that it has cushioned the country from the shock of the current global recession/depression. Without a large informal sector, the report suggests, the situation in Greece would be far, far worse. The Shadow Economy does not refer to the bribery that apparently exists in Greece's public sector. It is, rather, an alternative and interrelated economic system that provides jobs and supports people's incomes.rnhttps://www.blogger.com/profile/01115499862681364911noreply@blogger.comtag:blogger.com,1999:blog-7631633385048306686.post-59243131463787496892009-12-29T17:43:59.307-08:002009-12-29T17:43:59.307-08:00If Greece has it good, then why are youth rioting ...If Greece has it good, then why are youth rioting there, and why is there talk of the country being in such trouble?Jimnoreply@blogger.com