ECONOMIC EQUILIBRIUM AND TIME
by Demos Sympetheros

YOU DO NOT HAVE TO BE A GREAT ECONOMIST
TO UNDERSTAND THE NOTION OF ECONOMIC
EQUILIBRIUM.
JUST ASK ANY CITIZEN IN THE WESTERN WORLD.
HE WOULD ANSWER THAT WE LIVE IN STATE
OF DISEQUILIBRIUM.
AND THIS PERCEPTION  COMES FROM EVERYDAY'S
LIFE EXPERIENCE.

ECONOMIC EQUILIBRIUM IS THE ABSOLUTE GOAL
FOR MANY  ECONOMISTS.
MANY THEORIES HAVE WRITTEN FOR THAT REASON.
THE MAIN GOAL WAS TO REACH THE MAXIMUM
LEVEL OF WELFARE STATE WITHIN AN
ECONOMIC SYSTEM.
BUT THIS HAPPENED ONLY IN WORKING PAPERS.
IN REALITY ECONOMIC LIFE WAS FULL OF
EXTERNAL SHOCKS.

THERE WAS NO COUNTRY IN EUROPE TO ENJOY
FOR LONG TIME A DECENT ECONOMIC GROWTH.
UNFORTUNATELY,  TO ACHIEVE A LEVEL OF
ECONOMIC EQUILIBRIUM  A STATE NEEDS
LONG, LONG TIME.
TAKE A LOOK AT  EARTH AND MOON WHICH BOTH
ENJOY  A PEACEFUL EQUILIBRIUM AT THIS
POINT  DUE TO THEIR LARGE LIFETIME RELATIVE
TO OUR LIFETIME.

INSTEAD IN EUROPE WE HAD TWO WORLD WARS,
WHERE ALL MAJOR DEVELOPED COUNTRIES
HAVE PARTICIPATED.(GERMANY,FRANCE,ENGLAND).
AFTER THAT WE HAD OTHER MAJOR EXTERNAL
SHOCKS SUCH AS THE REUNION OF TWO
GERMANY, THE IRAQ WAR, THE AFGHANISTAN
WAR, THE LIBYAN WAR, ETC,ETC.
THESE KIND OF SHOCKS ARE ENOUGH TO
BRING MAJOR IMPACTS ON ECONOMIC
ACTIVITIES.

BECAUSE OF THE ABOVE ANALYSIS I HAVE NO
DOUBT SO EVER THAT EURO-ZONE  WAS
CONSTRUCTED ON A WRONG ECONOMIC BASIS.
IT WAS INTRODUCED WHEN MOST OF THE
COUNTRIES INCLUDED WERE UNDER ECONOMIC
DISEQUILIBRIUM.
AND IF YOU LOOK IN THE PAST ONLY SEVERE
ECONOMIC SHOCKS YOU WILL FIND.
WHAT TO SAY FOR "POOR" GREECE WHICH FROM
WHAT I KNOW FROM ITS PAST, IS DEFAULTED EVERY
TWO OR THREE YEARS.
NO TO FORGET A RECENT DEFAULT OF GERMANY IN
1959 IF I REMEMBER WELL

SO FOR WHAT EURO-ZONE ARE WE TALKING ABOUT 
IS THIS A SERIOUS UNION?.
THE DEFAULTED ARE UNITE WITH THE DEFAULTED.
THE STATES OF DISEQUILIBRIUM ARE UNITE WITH
OTHER STATES OF DISEQUILIBRIUM.

THE ECONOMIC STRENGHT THAT SOME COUNTRIES
HAVE FOR SOME TIME NOW ARE TEMPORARY
AND OF NON SIGNIFICANCE, DUE TO THEIR PAST
PERFORMANCE.
THE LEADING POWER OF EUROPE HAS SHOWN 
FROΜ ITS PAST BEHAVIOR THAT CAN VERY EASILY
FALL TO CRAZINESS...!

TO ME IT IS NOΤ A RATIONAL ACT TO OPERATE
UNDER THE GUIDANCE OF SUCH KIND OF
STATES.
HOW MUCH MORE PAIN SHOULD GREEKS 
SUFFER?



GREETINGS