Greeks Continue to Riot After Realizing Monopoly Money Isn’t Real
Paul Krugman should take note. See, a country can’t just keep spending itself into oblivion. Greece, as you all know by now, is out of money. In fact, it is so broke, that it’s close to going into debt default. So, it’s doing what it should have done a long time ago…it’s cutting spending. Of course, some people will react with shock and dismay when they’re told that their ridiculous government pensions aren’t sustainable. Instead of being adults and realizing that money doesn’t grow on trees, however, some of those people riot.
Others are a little more rational. Instead of rioting, they simply go on strike. While choosing a more peaceful option than the rioters, the strikers exhibit the same confusion over the source of their salaries.
“We are faced with almost the total destruction of Greece’s social security and labor system,” Spyros Papaspyrou, chairman of ADEDY union for civil servants, said by telephone before the march. “We remain committed to this struggle.”
Doesn’t a “struggle” imply that you have some slight chance of being successful? Spyros, your government, and employer, literally doesn’t have any money to pay you. I’m sure if you wanted, you could work for free, or maybe even get paid in gyros. That would help.
This is what happens when certain portions of the working population don’t understand where the money that pays their salaries comes from. This is also what happens when governments share the same confusion. Only the private market actually produces wealth. Governments, and by extension their employees, only take it. Hopefully the current administration is paying attention to the real world in Greece, and not Krugman’s classroom.