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Costas Simitis

European countries. It is misguided to seek a single cause for these developments. The causes are as complex as they are numerous: backwardness in many sectors; ingrained practices and views; inadequate institutional frameworks; absence of social conscience; degree of adaptation to the modern era; even historic causes, such as the Civil War and the rule of the military junta in Greece. Over five decades from the 1950s, Greece gradually unburdened itself of the plethora of controls and restrictions on economic and social life. And then the EMU brought unprecedented

in The European debt crisis
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

, 7) note, during the many years of military rule, “the technocrats would not encroach on the sectoral and microeconomic mismanagement which benefits the political masters, while the latter would allow the technocrats to keep control over the macro economy.” However, under both the Banharn and Chavalit administrations, the BOT and the finance ministry were “pushed and pulled by politicians” with increasing interference in the workings of these institutions from the prime minister’s office (Lauridsen 1998, 157). During the sixteen-months-long Banharn administration, the

in The Asian financial crisis
Abstract only
What’s green is gold
Adrienne Buller

Nature’s first green is gold, her hardest hue to hold. –Robert Frost 1 In the throes of Cold War tensions in 1960, the US military constructed a secretive base several metres below the surface at the centre of the Greenland ice sheet. Snaking across a labyrinthine, kilometres-long network of tunnels, Camp Century housed not only soldiers but also a chapel, shops and a cinema, all powered by the world’s first mobile nuclear generator. While officially branded a

in The Value of a Whale
Open Access (free)
Stan Metcalfe and Alan Warde

several spatial levels, provides preconditions or circumstances for market exchange and competition, and it intervenes to counteract some of the propensities of the market to produce untenable and intolerable inequalities, or environmental Conclusion 193 hazards, or trade in unethical products. The interesting question is how the incidence and form of regulation vary over time and across specific markets. There are some cases – for example, in the provision of public goods such as law and order and military services – where the market’s logic is deemed not to apply

in Market relations and the competitive process
Implementing the second Memorandum
Costas Simitis

excessive deficit has to be reduced. But there are various ways to cut state expenditure. Reductions in salaries and pensions and increases in taxation are not the only solutions. For example, Greece had the highest military budget across the entire EU, proportionate to population. Defence spending as a proportion of GDP was over one percentage point higher than the European average.21 This needed to be drastically reduced, but it was not. Even as late as April 2012, the Minister of Defence presented the acquisition of 400 tanks from the USA (at no cost) as a major

in The European debt crisis
Russell Southwood

military guard. By all accounts, many of these people are slaves.’  49 Although the complexities of the supply chain make it difficult to monitor where and how these mineral are mined, the Responsible Minerals Initiative is seeking to create standards for responsibly mining. 50 Google and Facebook on a mission With cheaper mobile internet access and smartphones, the third

in Africa 2.0
The Foundation Economy Collective

, the part is taken for the whole. Economists and policymakers have for the past thirty years increasingly focused on the competitive and high-tech part of the economy, and mundane activities have vanished from view. The problems of GDP thinking are well known. National income accounting was developed during the Second World War in the US and UK as part of mobilisation for total war (Re)discovering the foundational 13 so that US policymakers could judge the balance between military and civilian output and the UK policymakers could curb inflation at full employment

in Foundational economy
Abstract only
Joe Earle, Cahal Moran, and Zach Ward-Perkins

Sociological Perspective, London: Routledge, 1999, 14. 35 Mitchell, ‘Fixing the economy’, 86–7. 36 See Mark Guglielmo, ‘The contribution of economists to military intelligence during World War II’, Journal of Economic History 68(1) (2008): 109–50; and Michael Bernstein, ‘American economics and the national security state, 1941–1953’, Radical History Review 63 (1995): 9–26. Econocracy  31 37 Paul Samuelson, ‘Unemployment ahead: a warning to the Washington expert’, The New Republic, 11 September 1944: 297–9. 38 Evans, Macroeconomic Forecasting, 13. 39 Raymond F. Mikesell

in The econocracy
Getting sub-Saharan Africa connected (1991–2015)
Russell Southwood

Frenchman Eric Stevance had arrived in Mali to do his civilian equivalent of French military service at a French research institute, ORSTOM. 31 He fell in love with a Malian and stayed in the country. He created the first internet e-mail exchange while at ORSTOM and then, in 1994/95, started an ISP, Malinet (within Bintta Informatique). The Leland Initiative provided the first full-time connectivity via leased line 32 to Mali's local incumbent telco, Sotelma. After issues

in Africa 2.0
Abstract only
Economics and the collapse of possibility
Adrienne Buller

losses in these areas can be offset by higher consumption or incomes becomes absurd. Perhaps most alarming is that cost-benefit analyses frequently assign a value to human life (termed the ‘value of a statistical life’, or VSL). The VSL originated in Cold War analyses comparing the costs of different military operations (in other words, weighing up loss of life). Today, the value generally ranges from $8–11 million per life, based on various studies that assess how much people are willing to pay to avoid life

in The Value of a Whale