In Greece, Reliance on Public Funds Is the Central Problem

At Mises Daily, In this interesting empirical analysis of the situation in Greece, author Justin Murray looks at how it’s not enough to look at employment and wage data to gauge the Greek economy. Far more important is the number of workers versus the number of people living off taxpayer funded programs. In Greece, the grim fact for them is simply that pensioners, government employees, and other non-producers greatly outnumber the number of productive private-sector workers. It’s an unsustainable situation regardless of what whether Greece uses euros, drachmas, or any other currency.