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Greece had the biggest sovereign debt restructuring in history in 2012. [26] In April 2014, Greece returned to the global bond market as it successfully sold €3 billion worth of five-year government bonds at a yield of 4.95%. [27] Greece had real GDP growth of 0.7% in 2014 after 5 years of decline.
It was traditionally justified on the principle that the palace was most capable of distributing wealth efficiently for the benefit of society. [2] [3] The temple economy (or temple-state economy) is a similar concept. The concept of economic distribution is at least as old as the advent of the pharaohs.
Greece had 10 million barrels of proven oil reserves as of 1 January 2012. [1] Hellenic Petroleum is the country's largest oil company, followed by Motor Oil Hellas. Greece's oil production stands at 1,751 barrels per day (bbl/d), ranked 95th worldwide, [1] while it exports 19,960 bbl/d, ranked 53rd, [1] and imports 355,600 bbl/d, ranked 25th. [1]
The agora was the centre of the athletic, artistic, spiritual and political life of the city. The Ancient Agora of Athens was the best-known example. Early in Greek history (18th century–8th century BC), free-born citizens would gather in the agora for military duty or to hear statements of the ruling king or council.
In sociology, the ruling class of a society is the social class who set and decide the political and economic agenda of society.. In Marxist philosophy, the ruling class are the class who own the means of production in a given society and apply their cultural hegemony to determine and establish the dominant ideology (ideas, culture, mores, norms, traditions) of the society.
Hesiod active 750 to 650 BC, a Boeotian who wrote the earliest known work concerning the basic origins of economic thought, contemporary with Homer. [3] Of the 828 verses in his poem Works and Days, the first 383 centered on the fundamental economic problem of scarce resources for the pursuit of numerous and abundant human ends and desires.
The book provides a chronological narrative of the social, political and economic history of modern Greece, beginning with the outbreak of the Greek War of Independence in 1821 until 2008. The book is divided into thirteen chapters.
A dominant culture is established in a society by a group of individuals that direct the ruling ideas, values, and beliefs that become the dominant worldview of a society. Individuals from the dominant culture spread their dominant ideologies through institutions such as education, religion, and politics. A dominant culture makes use of media ...