Draco, the seventh-century BC Athenian legislator from whom we get the word “draconian” replaced the system of blood feud and oral law with a harsh, but transparent, written legal code. One of the provisions of Draco’s code was that any debtor whose status was lower than that of his...
Global Emerging Markets (GEMs)
Filed under: Filed under: Germany, unemployment, GEMs, Greece, euro, Greek, Charles Krakoff, Eurozone, keynes, reparations, International Monetary Fund, European Central Bank, debt crisis, The Economic Consequences of the Peace, European Commission, draconian, troika, Elena Panaritis, Draco
There is a debate in academic circles on the lessons of the current economic crisis. While most ivory tower debates are of little concern to our daily affairs, this debate should concern you, as it will inform those who hold central bank and political power. Remember, there is no playbook of rules for...