Re:Real time Greek referendum results
by Mikeb85 on Sunday July 05, 2015 @04:41PM
(#9834858)
Costs of doing business in the islands are higher than the mainland, transportation and all.
Under the EU program, money taken away from the working classes goes directly to creditors. Better to give to pensioners, who did 'earn' it, based on their understanding during their working years, and at least return it to the economy.
And no one should work as much as Americans.
And finally, you can't change society overnight. Corruption red tape and over spending exist everywhere, even the US. You can't simply crack down because then capital flight occurs. There's an entire category of economics that deals with this (development economics). It's always a balancing act.
There's many reasons for the Greek crisis, its all too easy to apply moral judgement to a very complicated issue.
Edit - the concept of 'fairness' also has no place in economics. That's for politics or religion. Economists try to achieve the best outcome, not try to decide what's 'fair'.
Under the EU program, money taken away from the working classes goes directly to creditors. Better to give to pensioners, who did 'earn' it, based on their understanding during their working years, and at least return it to the economy.
And no one should work as much as Americans.
And finally, you can't change society overnight. Corruption red tape and over spending exist everywhere, even the US. You can't simply crack down because then capital flight occurs. There's an entire category of economics that deals with this (development economics). It's always a balancing act.
There's many reasons for the Greek crisis, its all too easy to apply moral judgement to a very complicated issue.
Edit - the concept of 'fairness' also has no place in economics. That's for politics or religion. Economists try to achieve the best outcome, not try to decide what's 'fair'.