"Prime Minister George Papandreou said this week that Greece needs to see strong investment in order for the austerity program to work," write Peter Boone and Simon Johnson in their Economix blog. "While the government cuts fiscal spending, he said, it needs new private business to employ the dismissed workers so that they are productive, can pay taxes and do not need unemployment benefits."Hey, how hard can that be to pull off? Perhaps Greece should consider a theme park celebrating the ancient philosophers. They could call it SocratesWorld.
Friday, May 21, 2010
Greece Channels Flint, Michigan
Greece's economic troubles may have different origins than Flint's ongoing problems, but the solution sounds strangely familiar.