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Friday, July 17, 2015

Boomerang and the Grexit

It is stunning that Greece, which in many respects is the basis of Western Civilization (I realize that the term, Western Civilization, is anathema for some -- not for me), has become something of a laughingstock in Europe. A combination of unbridled government spending, political corruption, and widespread tax evasion has left the Greek economy in such dire straights that it has come perilously close to being booted from the European Union.

While there are numerous accounts of how Greece got itself into the mess it's in, I highly recommend Michael Lewis's, Boomerang: Travels in the New Third World. He only devotes one chapter to Greece ("And They Invented Math" -- the others focus on Iceland, Ireland, Germany, and California) but not only is it insightful, it is uproariously funny (in a depressing sort of way) and a joy to read. Below you can find an interview of Lewis on PBS's "Newshour."

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