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Ocean shipping: By far the best growth model for Greece

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  • George C. Bitros

    (Athens University of Economics and Business)

Abstract

Today there is unanimous agreement that the country’s production model must change. But Greeks are very confused about the direction of the necessary changes. For, as the recent elections revealed, the vast majority of citizens have been brainwashed into believing outrageous promises about what the Greek leviathan state can do for them. Hence, the situation may be expected to worsen, unless Greeks start soon to realize: first, that the model of nearly centrally planned economy that we inherited has failed us miserably; and, secondly, that it must be replaced by a new model based on the flexibility of competitive markets and export oriented policies and entrepreneurship. If and when this change of mind and heart takes effect, the answer to the question which eco- nomic growth model is best for Greece will become self-evident. It is the model of ocean shipping because in the same time that a small number of dynamic Greeks control 17% of world trade shipments and contributes not less than 6% to the country’s GDP, organized minorities of politicians, labor unions, professionals associations, etc., do everything in their power to keep Greece in the role of a global beggar. The aim of this paper is to document that the model of ocean shipping, in which Greeks dominate for centuries, offers by far the most promising growth model, because it can get us quickly out of the impasse we find ourselves presently.

Suggested Citation

  • George C. Bitros, 2015. "Ocean shipping: By far the best growth model for Greece," Working Papers 201512, Athens University Of Economics and Business, Department of Economics.
    • Handle: RePEc:aeb:wpaper:201512:y:2015
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    References listed on IDEAS

    as
    1. Bitros, George C. & Minoglou, Ioanna, 2006. "Entrepreneurship and market order: Some historical evidence," MPRA Paper 573, University Library of Munich, Germany.
    2. Smith, Adam, 1776. "An Inquiry into the Nature and Causes of the Wealth of Nations," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1776.
    3. Stavros H. Arvanitis & Irakleia S. Tzigkounaki & Theodoros V. Stamatopoulos & Eleftherios I. Thalassinos, 2012. "Dynamic Approach of Capital Structure of European Shipping Companies," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 5(3), pages 33-63, December.
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