If Greece is forced out of either the Euro, the EU or both - there are clear implications for theGreek economy. But will there be any implications for underlying productivity.
Well, there is some evidence - ironically from Greece itself - that national confidence and national pride do have a significant impact on the productivity of workers.
When Athens hosted the Olympics in 2004, there was a surge of national pride and of 'engagement' of the workforce with their country. This resulted in both a sense of well-being for the workers and in a boost to the economy.
This suggests, unfortunately, that exit from the Euro might have a negative effect on productivity and the economy - perhaps resulting in a kind of 'vicious spiral' of decline in the economy and national confidence.
Well, there is some evidence - ironically from Greece itself - that national confidence and national pride do have a significant impact on the productivity of workers.
When Athens hosted the Olympics in 2004, there was a surge of national pride and of 'engagement' of the workforce with their country. This resulted in both a sense of well-being for the workers and in a boost to the economy.
This suggests, unfortunately, that exit from the Euro might have a negative effect on productivity and the economy - perhaps resulting in a kind of 'vicious spiral' of decline in the economy and national confidence.
Posts
No comments:
Post a Comment