Greece is in the throes of depression. The Troika has executed the economy of Greece on an altar of austerity. Widespread economic hardship could lead to serious social and political consequence.Steve will be keynoting a seminar on debunking economics on June 18, 12:00 PM, at the University of Thessaloniki. This will be his first visit to the country. The talk in Greece was arranged by an associate of IDEAeconomics and organized by Prof. Dimitris Mardas and the Society for Economists and Entrepreneurs.
Our Greek correspondent conducted an extensive interview with Steve, published earlier this year, and now edited and republished on the IDEA website. The interview is comprehensive and telling. It is difficult to exaggerate the damage being done by ignorance of how money, debt and credit works. That ignorance is deepest among those whose self-interest it furthers, and it is the ignorance from which the Troika -- European Central Bank, European Commission and International Monetary Fund -- operate. And there is no popular comprehension of how profoundly wrong the view is, nor its immediate and devastating effects on the social fabric.
Our correspondent's concluding comments are telling:
I honestly believe that if new approaches to economic thinking do not become widespread, at least in my country Greece, then the very idea of democracy will be threatened from the radicalization of the electorate. I would be ashamed of my country's civilization if we yield in our desperate search for solutions to uncivilized alternatives. No matter how idealistic this may appear, I believe that it is the duty of my generation to do everything possible to present to our children an alternative vision for a better future, or our children will rightly so accuse us in the future of doing nothing else but just sitting and watching destruction spreading everywhere.