Friday, April 16, 2010

Greek Debt Crisis: Institutional Factors at Work

Today’s edition of The Wall Street Journal contains a very good story  that examines the role of corruption in Greek society as a factor in that country’s current financial crisis. (Subscriber content at this writing, but plug the headline into your browser, you may find an open version.) And while things like corruption are not the sole cause, the story provides a good example of how an environment that lacks protection of property rights and encourages bribery can, over time, rob an economy of growth.

And whether or not you can find the whole article, the video and interactive graphics are very informative and were open access the last time I checked. I hope you give it a look.

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