By Mr. Maverick
At first glance, the title is semantically void, even nonsensical. Both words are synonymous and carry the same connotation. If you’re Greece, however, and you add the word ‘qualitative’ before edge and the words ‘of collapse’ next to verge, then you start to paint a picture. Let’s crash through the surface and take a deeper dive here, shall we?
Greece is a rather small country – both in terms of sheer size and demographic potential. As is well known, geography is destiny, but so is demography, as we have thoroughly analyzed in our previous article. Strangely, despite this inferiority, in terms of power rankings, in a hypothetical power continuum, Greece hovers by and large closer to the middle-power distinction, for a number of reasons. Its oddly powerful military, its untapped cultural potential and influence, along with its positive international recognition, are some of the reasons – or fortuitous circumstances – that create this paradox between ostensible data and real, raw power.
Having hit rock bottom after one of the most violent fiscal crises a state has ever confronted in global financial history, the country now vies for a speedy recovery. Yet, its steep demographic decline is a harbinger of enormous pitfalls ahead. After such extreme vicissitudes, demography is one of the main “greases” that lubricate the economic machine. And, the absence of a vibrant working force subverts any endeavour toward an economic regeneration. According to a recently published survey, Greece ranks third in the pace of demographic decline – and third worldwide, behind only a war-riven Ukraine, and Tuvalu, which has fallen prey to rising sea levels in the South Pacific. This creates a heavily fogged-out landscape.
Is there any “silver bullet” for this Gordian Knot?
Unless the country is willing to throw in the towel and enter the history books once and for all, it must take drastic measures to stem this dramatic decline. Greece has to make a radical change of course – switching tracks to prioritize quality over quantity. Actually, let me rephrase to emphasize the gravity of this shift: Greece needs to jump with both feet on the quality bandwagon. Now. It needs to reorient, reassess, and reprioritize every aspect of its socioeconomic existence with an ironclad commitment to creating, as far as it can, a qualitative edge in as many domains as possible.
Of course it will come at a price, a huge one to be frank. Of course it won’t happen in a day. Nor in a year. Of course this transition demands a far-sighted strategy and an genuine commitment from the entire society – or at least the majority of it. And of course, an inspiring leadership is essential to facilitate and incentivize this track change vertically. Because, as a society, Greece typically functions better with a top to bottom approach.
To operate like a well-oiled machine capable of arresting this debilitating downward spiral, Greece must chase the edge. In other words, it must create that qualitative margin that will offset its quantitative handicap. This means shedding bureaucratic fat, drastically shrinking its public sector, digitalizing and simplifying transactions with the public sector, reforming its notoriously sluggish judicial system, and incentivizing private sector investment, among many other direct measures. Amassing the Hellenic scientific elite and investing heavily on STEM R&D is a move that could bolster long-term progress and revitalize the economy – creating a powerful technological edge that could resonate far into the future.
Uniting behind a well-conceived and well-executed change of direction could usher in a more prosperous Greece – one that prioritizes quality over quantity, preserving or better yet increasing its overall affluence and power projection. In essence, this is really a cultural and behavioural transformation that permeates the entire social fabric. The country must reach for the toggle switch and resourcefully flip on the quality button.
The edge can erase the verge of collapse.
