Isocrates Warns Modern Greece

Vanity Fair published this microscopic view of the Greek economy and culture by Michael Lewis whose description suggests how they country gamed its way into the EU monetary union system through subterfuge. It is an article worthy of careful reading as it suggests that the monks of Vatopaidi monastery are too clever for the overpaid, corrupt and unsophisticated bureaucrats.  His conclusions about the prognosis for the Greek economy into the future are a serious cause to worry as both the public and bureaucrats are unwilling to examine the society's many shortcomings and structure incentives differently.

"Democracy destroys itself because it abuses its freedom and equality. because it teaches its citizens to consider audacity as a right, lawlessness as freedom, abrasive speech as equality, and anarchy as progress".

Lewis picks up Isocrates' injunction above  which forewarned about the dangers of democracy without responsibility. I doubt that democracy condones free riding and widespread mendacity. With monks as smart as the those in the Vatopaidi Monastery, Greece yet has a future albeit one that will require living in a more spartan way.