Just to put matters into a bit of perspective we should note that the GDP of Greece in 2011 was 217.8 billion Euros or roughly 283 billion U.S. $. The GDP of Alberta in 2011 was 286.6 billion C $ at current exchange rates equal to $ 287.5 U.S. $. The GDP of Minnesota is 267 billion U.S. $ as of 2010. So while it is a major human interest story to see if Greece and its 11.3 million people can be rescued from bankruptcy and prolonged misery we ought not to lose sight of the relatively small size of Greece in comparison to the German , French, American or Canadian economies.All of whom could come to the aid of Greece and prevent needless suffering by lifting the unrealistic and excessively severe austerity being imposed on them.
German GDP 2, 567 billion Euros or 3337 billion U.S. dollars
French GDP 1,987.7 billion Euros or 2584 billion U.S. dollars
U.S. GDP 14,600 billion U.S. dollars
Canadian GDP 1585 billion U.S. dollars
Greek GDP 283 billion U.S. dollars.
I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.
This entry was posted in Uncategorized
. Bookmark the permalink