The way in which Greece has been a success

“Greece is widely viewed as an economic basket case. This recent article in the Financial Times discusses some fanciful proposals to fix the Greek economy. I don’t doubt that Greece has performed poorly in recent years, but in one little known respect Greece is a shining star. In this post I will argue that it’s by far the most successful economy in the world, of its type.

The italicized phase “of its type” is obviously the gimmick that I’m going to use to make my contrarian argument. But in the end I do have a serious point to make….”

Via Why is Greece such an economic success? @ Scott Sumner | EconLog | Library of Economics and Liberty

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