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Aspects of the ‘Real’ Economy

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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 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Nicholas G. Pirounakis 1997

Authors and Affiliations

  1. 1.Economic Research and Analysis LtdGreece

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