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I am no economist (I have this belief in honest work for honest wages which probably disqualifies, lol) but it is not difficult for me to imagine that economists would argue that when and wheree wages are lower in a free trade economic system, that the system can be expected to respond by shifting production to that region. In Greece’s case, production factories should have moved from Germany (high wages) to Greece (low wages), and nothing in EU should have prevented Greece from thus determining their own economic destiny, i.e., the people of Greece could reap the economic rewards of working hard. What happened? Their government and culture contained too much collective inertia, and politics combined with overly easy lending policies led them over the cliff(?)

Personal anecdote: I was in Greece in 2010, and the most visible problem was exploitation of foreign workers from the Balkan countries. Greece had a relatively high minimum wage, which enticed many foreign students to go work there to work in tourist shop retail sales. However, payroll often falls behind (or at least, so I was told), and as a result, the foreign workers often work for little or nothing and their livelihood is often at the mercy of the locals.


21 posted on 02/10/2015 1:38:08 PM PST by SteveH
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To: SteveH

Normally it should not be so easy to refute this editorial with a counterexample, but...:

Greek court acquits farmers who shot 28 Bangladeshi strawberry pickers

The Guardian
30 July 2014

http://www.theguardian.com/world/2014/jul/31/greek-court-acquits-farmers-shot-strawberry-pickers


24 posted on 02/10/2015 1:57:47 PM PST by SteveH
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