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A report of the International Labour Organization on undeclared work in Greece refers to failures of formal institutions which contribute to the asymmetry between state and civic morality. The particular asymmetry is explored through the context of tax morale, which is one of the major determinants of the shadow economy. Although several papers have been published on the Greek shadow economy, tax morale in Greece has not been adequately explored. This research aims to investigate the effect of the economic downturn on the factors determining the level of tax morale through primary data from a European Union-funded research project on the Greek shadow economy. The findings provide policy orientations toward transferring activities from the shadow to the official economy, a goal which is part of Europe 2020 strategy.

Analyzing how the post-Soviet transition interacts with the crisis of market finance exhibits a new “greed-based economic system” in the making. Asset grabbing is at its core and hinders capital accumulation. All the various privatization schemes have triggered off asset grabbing, asset stripping, and asset tunneling. A global contagion of such behavior has spread the power and cohesion of managers/shareholders (oligarchs) worldwide. Financial asset grabbing is less straightforward, though much widespread, and operates in financial markets through new financial products, securitization, firms buying their own shares, hedge funds, stock price manipulation, short selling, and the distribution of stock options.Shadow banking, and more generally a global informal economy, results from grabbing strategies in financial markets that breach the formal rules of capitalism. In alleviating and circumventing the rules, the oligarchy paves the way for economic malpractices and crime, calling capitalist laws into question.In such context, systemic greed underlies unconstrained maximization of relative wealth, for which asset grabbing is a rational means, in a winner-take-all economy. At the present stage of our research, a greed-based economy cannot yet be theoretically defined as a transition either to a new phase of capitalism or to another different system.

The fact that the ME has been an area of conflicts throughout its history is an indication of its utmost relevance to the strategy formulations of major powers. The ME can be called “the land bridge of civilization” because it links Africa with Eurasia, and it has been the trade route of peoples from Asia, Africa, and Europe. Ancient empires, as well as contemporary major powers, have competed for power and influence in the region to enhance their relative economic and military positions. The discovery of oil in the region escalated the struggle among major powers, created societal dislocations, and increased internal and external conflicts. The ME has been the major artery of contact for over 3000 years (Weatherby, 2001, pp. 1–4). One hundred years ago, scholar-adventurer John L. Stoddard recognized this fact when he described a small portion of the region, Palestine. According to Stoddard, “Palestine has an area only a little larger than the state of Massachusetts, while Russia occupies one seventh of the habitable globe: yet in the scales of intellectuals and moral value the little province of Judea outweighs beyond comparison the empire of Czar” (Weatherby, 2001, pp. 1–4).

The availability of funding is one of the key problems in the small and medium-sized business not only in Europe but also all over the world economic space. The lack of funds results in the starvation of the economy preventing it from full-fledged development. The aim of the research is to analyze the factors that interfere with the availability of funding to the small and medium-sized companies, by developing the profiles of SMEs and to give recommendations for the more effective raising of funds. During the research the following research methods were used: the generally accepted quantitative and qualitative research methods in economics, including the comparative analysis and synthesis and graphical depiction. The results of the analyses will be discussed and recommendation will be provided for policy makers and academician in the last section.

This study examines the way the government of Kazakhstan confronted informal (squatter) settlements and their property in Almaty in 2006. It argues that the way the state handled the issue as part of a broader state economic strategy was neither appropriate for the aim of creating a functioning property market nor for advancing social justice and welfare. The analysis focuses on the attempted demolition of two informal settlements, Bakay and Shanyrak, and subsequent events, including (a) militant and political responses among the residents and their supporters, (b) the legalization campaign, and (c) the effects of the global credit crunch on construction and property market in Almaty. The goal here is to refine the claim to a connection between formal economy, state practice, and squatters' experiences.