Aspects of the ‘Real’ Economy

Nicholas G. Pirounakis
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Nicholas G. Pirounakis: Economic Research and Analysis Ltd

Chapter 8 in The Greek Economy, 1997, pp 170-205 from Palgrave Macmillan

Abstract: 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.

Keywords: Direct Foreign Invest; Real Wage; Foreign Firm; Annual Percentage Change; Unit Labour Cost (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37486-7_9

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DOI: 10.1057/9780230374867_9

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