Category Archives: Politics and Business

History Funnel: How Athenian Democracy Made People Stretch Beyond Their Comfort Zones

Thomas Katakis, he is a business executive with 14 years of experience in 5 blue-chip companies. He has an impeccable lust for art, sailing, history, and traveling.

Athenian Democracy was an unprecedented social experiment that prevailed over time. But how come this system go so far? And was Athenian Democracy the epitome of empowering leadership?

Laying the Ground for People Power

We all know that democracy was born in Athens. Athenians were the civilized, the philosophers, the democrats, the dreamers that built the Parthenon. The daring sailors who travelled far and wide to infect others with their ideas and… their trade (after all, money speaks louder than words). But what we might not all know is that although the golden era of Athenian Democracy was associated with the leadership of Pericles (great marketing by the way), its foundations were first laid by Cleisthenes (508 BC). He was the one who broke up the system of political power based on nobility and wealth and handed it to the common people. That – quite literally – is what democracy means: “demos” means people and “cratos” means power. So to us Greeks the People’s Republic of China, for example, translates as “People’s People’s Power”. Sounds weird to us, but we’re not judging.

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Greek NPL’s: Is there light at the end of the tunnel?

Dr. Periklis Gogas Associate Professor

 

Dimitrios Karagiozis

Ph.D. Candidate

Department of Economics Democritus University of Thrace, Greece

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The year 2018 is a milestone for Greece, as it moves towards to the completion of the third economic adjustment program. That means that after the official end of the program in August 2018, Greece must take fate into its own hands, and try to borrow from the markets to meet its future debt obligations. As the country leaves behind the 8-year long memorandum era, the two main concerns for the Greek government and the banking sector are: a) a decision on the debt relief measures that should follow and b) a solution to the Non-Performing Loans (NPL’s) problem.

The International Monetary Fund openly declares what anyone with basic training in economics can see: Greece requires substantial debt relief from its European partners to restore debt sustainability. The main issue here is that the resolution of this problem mainly depends on political decisions from Greece’s EU partners that are hard to sell to their voters-tax payers. This is of outmost importance for the medium to long term stability of the Greek economy. On the other hand, the NPL’s problem is urgent and imperative.

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Instead of soaking the rich, create some new riches: an update

drjohn11a

Dr. John Psarouthakis, Executive Editor.www.BusinessThinker.com.
Founder and Managing Director, www.jpmcenter.com

We all know that if we confiscate the entire 2017 earnings of the highest earners and sent it to Washington, you would solve almost nothing in Washington. Most of us, I hope, understand furthermore that pulling the One Percent’s wealth away from the capitalist funnel that feeds our economy would be worse than solving nothing; it would be a serious problem. This plan would, on the other hand, goad the very top layer of American wealth to do everything in its power to grow the economic pie.

I first thought of the plan applying to any person or entity with taxable income of $1 million a year or more. That was partly because a million dollars is certainly a nice income—but also because it’s an easy figure with which to work in sorting out numerical concepts. A $1-million cutoff would apply to an army of CEOs and business owners, but also to several battalions of quarterbacks, pitchers, power forwards, rock guitar players, actors, and media performers or executives. Applying the plan to the entire One Percent would cover any household making roughly $506,000 and up. Maybe the plan could be modified and applied effectively to affluent but somewhat lower pay grades. I don’t know. Economists and tax experts and actuaries and mathematicians who are whizzes with algorithms—lots of people need to have a go at fine-tuning and improving what I will call here “Economic Growth Corporations.”

These Economic Growth Corporations (EGCs) would not be think tanks, or advisory panels, or bureaucracies whose public benefit can be measured only via the most imaginative statistics. EGCs would be chartered to grow the economy in fact, not in theory and not as mere demonstration projects. EGCs would jumpstart our economic engine in ways numerous schemes, from “enterprise zones” to your town’s tax-abated industrial park, have never done.

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