Why Greece is struggling so much with productivity?

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I know that Greece has had economic woes for some time, but I was surprised to learn that the average Greek worker puts in more hours per year than the average American and significantly more than the EU average. With the recent approval of six day workweeks in Greece, while conversations about shifting to four day workweeks are occurring elsewhere in the world, I’m curious as to what has led to this situation occurring?

In: Economics

15 Answers

Anonymous 0 Comments

One factor is just a simple data collection problem – Greece has a lot of tax evasion and the main way they do that is by doing grey/black market work with cash only payments.

Because you can’t measure this very easily, it impacts the productivity measurements of the country.

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