The World This Week: Greek Crisis Marks End of Debt Era
The Greek debt crisis signals the beginning of the end of the current debt-fueled global financial system.
Once upon a time, a Greek named Aristotle purportedly wrote a treatise called Economics. This title literally means “household management” and is derived from οἶκος, which means household. This work deals with issues like private property, duties of a wife and management of slaves. It describes different kinds of economies, but states that all of them have one principle in common: income must exceed expenditure.
