Sustainable Governance
The changes in the international economic system and in geopolitical power relations over the last decades have had a decisive impact on the ways in which states are now involved in shaping the economy. The globalization of markets, special competitions,
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Sustainable Governance
6.1
Introduction
The changes in the international economic system and in geopolitical power relations over the last decades have had a decisive impact on the ways in which states are now involved in shaping the economy. The globalization of markets, special competitions, the Covid-19 pandemic, new environmental and regional challenges, as well as the divisions emerging at socioeconomic and cultural level, redefine the role of the state. The current global economic crisis is also contributing to the adjustment of the state function in relation to the economy. Popular approaches to date, which have given priority to market mechanisms and their ability to selfregulate, are beginning to lose momentum. The conditions for a general consensus are gradually emerging on the new forms of regulation and action which the states are now called upon to take while simultaneously there are fears that overstaffing their role could threaten the privacy of citizens. The importance and, ultimately, the meaning of seeking more effective and democratic methods of governance (political and economic) lies in the fact that governance can not only influence the performance and form of the economic system at present, but it essentially shapes incentives and institutions for the future distribution of resources and incomes within society. Let us not forget that institutions, as entities, in their capacity to evolve and enjoy broad acceptance and influence, by their very nature are © The Author(s) 2020 P. E. Petrakis and P. C. Kostis, The Evolution of the Greek Economy, The Political Economy of Greek Growth up to 2030, https://doi.org/10.1007/978-3-030-47210-8_6
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the most effective tools to address the biggest systemic problems, such as economic inequality, discrimination, and a reduced sense of justice within societies, the gradual elimination of natural resources, etc. If we are to be able to exploit these institutions’ potential as a society, then we must recognize the importance of good and sustainable governance and make them a political priority for the coming years. The concept of sustainable governance promotes a long-term view of public policy in such a way as to take into account the interests of future generations. Some approaches, mechanisms, and frameworks make it easier than others to design and implement long-term policies with positive results in the future. For example, increased confidence in the political system and institutions and the conditions for political stability are more favorable to this. The focus on the longevity of policies and the consideration of the interests of the next generations stems from the international community’s assumption that current economic development in the current period should not hinder future development, nor should it pass on debts and problems to the coming societies. This chapter aims to present the quality and sustainability of governance in Greece, highlighting many of the weaknesses that characterize it. A good ef
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