In the News
Ghost Factories of Greece in Pictures
23rd May 2015
This photo stream from a journalist at Reuters illustrates in a striking way the damage that a persistent depression can have on the physical capital of a modern economy. Economists have a term for this - hysteresis - and a quick flick through this montage of images of abandoned factories reveals much about the long term scarring effects of an economy whose trend growth rate has collapsed.
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
You might also like
Unemployment and hysteresis
10th February 2013
Greece - Economic Growth and Development
Study Notes
Aspects of the Economic Cycle - Revision Presentation
Teaching PowerPoints
Resources on the Greek Economic Crisis
27th January 2015
Can Game Theory Help the Greeks?
2nd February 2015
Martin Wolf on Global Shifts and Shocks
6th February 2015
Europe: No Country For Young People
10th February 2015
Fiscal Policy - Bond Yields
Study Notes