In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added to households' estimates of their private wealth relative to their wage income. (Edmund Phelps)

In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added to households' estimates of their private wealth relative to their wage income.

Edmund Phelps

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extent greece income lesser private relative spending tax wage wealth france italy cuts

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