Nouveau riche signs
In the 2000s, Greece witnessed an era of irrational exuberance, better known here as “the era of lobster pasta.” Some people would even fly by helicopter to an island just to enjoy such a meal. As the apologists of that time said, “That’s what economic growth brings.” They viewed any criticism of these phenomena as elitist snobbery.
However, it was not. Prosperity based on healthy, productive investments that adhere to rules and laws is to be welcomed. In contrast, bubbles of every kind, state-dependent businesses, and opportunistic ventures are not. After all, we saw where that wild party led: Most of its key players are now bankrupt, not because they took serious business risks. Some are still trying to extricate themselves from various criminal cases, although most have managed to “clean up.” The naive who invested in the stock market gamble were left holding worthless shares.
Today, signs of unchecked nouveau riche behavior are again evident: children’s parties on mega-yachts, people parking their helicopters wherever they please without permits, and cars with blue lights that are supposedly reserved for the police.
Alongside this, the lobster pasta aesthetic has once again taken center stage. The Aegean islands that avoided unchecked development the first time due to the economic crisis are now at a critical point. In a country like Greece, where things are often chaotic, money naturally moves faster than any rule or government. It’s also expected that in a country with very low wages that “services” that shouldn’t be for sale are purchased. However, we have experienced this phenomenon before and should have learned from the costs it imposed on Greek citizens.
The country has developed an exceptionally dynamic and outward-looking private sector that strives to operate properly. We see this in various sectors, including tourism. They follow basic laws and rules, even though, in this country, doing your job “by the book” can sometimes seem nearly impossible. When these individuals struggle for years to obtain permits for a building and see an illegally built monstrosity next door, they are rightly frustrated.
Here we are, at a crossroads, with many signs warning us that we haven’t learned much from the great crisis.
