Posts Tagged ‘Greece’

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    Virginia and Germany

    Dec 1, 10 • 91 Views • Demand, Supply, and Markets, Economic Debates, Financial Markets, Government, International Trade and Finance, Macroeconomic Measurement, Money and Monetary PolicyNo Comments

    “Where…is the justice of compelling a State which has taxed her citizens for the sinking of her debt, to pay…the debts of other states, which have made no exertions whatever?” This quote, from John Steele Gordon’s,...

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    Closed Professions

    Oct 17, 10 • 107 Views • Businesses, Demand, Supply, and Markets, RegulationNo Comments

    If you are a Greek pharmacist, you are guaranteed a 35% profit on the drugs that you sell, your store can be no closer than 820 feet from another pharmacy, and you probably paid close to $400,000 for a business license. Called “closed professions”...

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    The Young Old

    May 15, 10 • 102 Views • Government, RegulationNo Comments

    Having read that Greek fiscal austerity involves raising their average retirement age from 53 to 67 and that their life expectancy is 79.5 years, I thought of the Social Security Act of 1935 and then 2035. When Social Security was enacted in 1935, 5.4%...

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    A Contagious Disease

    May 6, 10 • 119 Views • Economic Thinkers, Financial Markets, GovernmentNo Comments

    Seeing the Bloomberg Businessweek headline, “Greek Contagion Spurs Surge in Portugal, Spanish Debt Swaps,” I started thinking about diagnosing fiscal illness, treating it, and contagion. How can we diagnose the illness? The illness...

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    Euro Matters

    Mar 9, 10 • 118 Views • Thinking EconomicallyNo Comments

    Said to have been one of the least-prepared countries to transition to euro cash, Greece was an original participant in the euro launch on January 1, 2002.  In the first major euro robbery, in Athens, a gunman ran off with 76,000 euros...