A Political Economy of Modern Greece

The monograph by Hungarian economist György Simon, Jr. analyses the main processes of political and economic development of Greece after the Second World War. The theoretical part of investigation deals with such characteristics of modern economic mechanism as production and growth, equilibrium prices, income distribution, profit, wage and capital formation. Particular attention is devoted to the key spheres and issues of economic policy relating to the mobilisation of internal resources and international economic conditions. The endogenous general, or world model of growth that was primarily used here for practical calculations concerning Greece is based on a Kaldorian approach to technical progress. It considers both physical and human capital, as well as time in the role of event space of creative economic activity, with 1950 as a base year. The author also investigates the role of demand-side factors of economic growth, particularly foreign direct investment.