While Saddened by the hardship and turmoil the Greek debt crisis has spawned, I cannot allow such compelling material for teaching go unnoticed. So, I am compiling a set of articles from various sources to create a packet for my Econ of Social Issues classes next semester.
I am fascinated by the spectacle of unionized government employees, a huge and primary source of the crisis, protesting in the streets against wage freezes and pension cuts. Instead they want the government to increase tax rates, a wealth destroying activity. So, those who make a living from state revenue are are in the streets arguing for policies that reduce state revenue, yet they hope to maintain the same level of income and pay raises?
That basic economic principles are not exactly mainstream knowledge is the only reason I do not view these protesters in the harshest of lights.
If anyone knows of some great articles I should include in the packet, please let me know.