The Greeks haven't saved or produced enough to justify their high standard of living compared to other countries of the world. This is a fragile bubble economy made possible by European central bankers.
Everything you learned from family dinner conversations and your culture served to build your human capital. Across the globe, the people of various regions cultivate certain skills that enable individuals to consider entrepreneurship as a viable choice of work.
Many entrepreneurs go into the marketplace with romantic and abstract notions of how markets work. But there's nothing romantic or abstract about the losses incurred by failed entrepreneurs.
When socialists held up Venezuela in the 2000s, the message was, ‘See, we told you so; socialism works!’ but when failure happened, the message changed to, “No, wait — that’s not real socialism!’
