Whether governed by socialists or conservatives, modern Greece has seen an alarming increase in public debt and decline in public-sector efficiency. Because political patronage and clientelism have become deeply entrenched in Greek culture, the fiscal tragedy will likely worsen before conditions improve.
Rent Seeking in the Greek Economic Drama
By Panagiotis Evangelopolous
This
article
appeared in
the Summer 2012 issue of The Independent Review.
Economic History and DevelopmentEconomyFederal Budget PolicyFiscal Policy/DebtPublic ChoiceTaxes and Budget