Kvashnin Yuri
The Crisis in Greece through the Prism of Human Capital Formation
Publication Type:


ISSN 0201-7083

DOI 10.15211/soveurope520164146

The article deals with the key trends in human capital formation in Greece before and during the ongoing economic recession. The author proves that the current crisis was largely caused by the country’s peripheral place in the global economy, its lag in the transition to the knowledge economy, based on investment in man, primarily in education and health. Education in Greece faces a number of unresolved problems such as inadequate funding, poor teaching, discrepancy between the employee's qualifications and the job requirements. The health system is still in a much better condition, but it suffers from the high levels of corruption and reduction of the number of medical institutions. Due to the economic crisis the Greek authorities have launched some serious reforms, which, however, don’t pursue the country’s long-term development, and are designed mainly to reduce government spending. 

 


Keywords: Greece | human capital | education system | healthcare |

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