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Title Details:
Vikings in Greece
Other Titles: Rent-seekers against collective interest
Authors: Pelagidis, Theodoros
Reviewer: Chionis, Dionysios
Subject: LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS
LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > PUBLIC ECONOMICS
Keywords:
The Greek Economy
Economic Crisis
Economic Growth
Structural Reforms
Fiscal Balance
Description:
Abstract:
In this chapter, we argue that the, numerous, rent seeking groups in Greece curtail competition in the product and services markets, increase red tape and administrative burdens and actively seek to establish opacity in all administrative and legal processes in order to form an environment in which they will be able to increase the rents they extract. At the same time, they actively stride to ensure that the rule of law fails to such an extent that the society will not be able to hold them accountable for their actions. We finally argue that certain salient aspects of the design of the Greek political system suggest why Greek politicians are unable to champion reforms and effectively confront the designs of these predatory interest groups.
Table of Contents:
2.1 Introduction
2.2 The options of "exit" and "voice" as conditions of reforms
2.3 The obstacles of reforms in Greece
2.3.1 Veto powers in the political system
2.3.2 The roots of compartmentalisation
2.3.3 The Greek reality and interpretations
2.3.4 The rational, invisible "re-distributive groups", the political elite and the "hollow state" with steel teeth ...
2.4 Directions for reform policies in a rent-seeking society
2.5 Players and the game: economic analysis of the reform inertia in the Greek economy
2.5.1 Introduction
2.5.2 The players and the game
2.5.2.1 Strong vested interests: The rentiers Vikings
2.5.2.2 The ignorant and misinformed voters
2.5.2.3 The media and the principal-agent problem
2.5.4 The State as a loot to rent-seekers
2.5.2.5 Failure of mandate holders (legislative-political)
2.5.3 The institutional failure and the representatives
2.5.4 Considerations for 'rebooting' the system
2.5.5 The Technology of reforms
Annex
Technical Editors: Chryssos, Vassilis
Type: Chapter
Creation Date: 2015
Item Details:
License: http://creativecommons.org/licenses/by-nc-nd/3.0/gr
Handle http://hdl.handle.net/11419/1182
Bibliographic Reference: Pelagidis, T. (2015). Vikings in Greece [Chapter]. In Pelagidis, T. 2015. Analysis of the Greek Economy [Undergraduate textbook]. Kallipos, Open Academic Editions. https://hdl.handle.net/11419/1182
Language: Greek
Is Part of: Analysis of the Greek Economy
Number of pages 37
Publication Origin: Kallipos, Open Academic Editions