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Aspects of the ‘Real’ Economy

In: The Greek Economy

Author

Listed:
  • Nicholas G. Pirounakis

    (Economic Research and Analysis Ltd)

Abstract

A broad definition of the ‘real’ economy involves the production, transportation, and selling of goods and services — as opposed to the exchange of paper assets, which is the concern of the ‘paper’ economy of the world of finance. A narrower definition would focus on material goods only; sectors like industry, commerce, agriculture, shipping, supermarkets, construction. Either way, the ‘real’ economy, directly or indirectly, is, and always will be, the foundation of the economy as a whole. In Greece the survival, and, here and there, good performance of the ‘real’ economy, despite the weak infrastructure of the country and atrocious state policies, is almost a mystery — until, that is, one realises that, when all is said and done, people need the ‘real’ economy in order to make a living.

Suggested Citation

  • Nicholas G. Pirounakis, 1997. "Aspects of the ‘Real’ Economy," Palgrave Macmillan Books, in: The Greek Economy, chapter 8, pages 170-205, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-37486-7_9
    DOI: 10.1057/9780230374867_9
    as

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