In \u201cBoomerang\u201d\u009d Mr. Lewis captures the utter folly and madness that spread across both sides of the Atlantic during the last decade, as individuals, institutions and entire nations mindlessly embraced instant gratification over long-term planning, the too good to be true over common sense.<\/p>\n
Greece, Mr. Lewis writes, ran up astonishing debts \u201d\u201d from high-paying government jobs and generous pensions, as well as waste, bribery and theft \u201d\u201d that came to \u201cabout $1.2 trillion, or more than a quarter-million dollars for every working Greek.\u201d\u009d In just the last 12 years, he says, \u201cthe wage bill of the Greek public sector has doubled, in real terms\u201d\u009d with the average government job now paying almost three times the average private sector job. Those who work in jobs classified as \u201carduous\u201d\u009d can retire and start collecting pensions, he adds, \u201cas early as 55 for men and 50 for women\u201d\u009d; more than 600 Greek professions have somehow managed \u201cto get themselves classified as arduous: hairdressers, radio announcers, waiters, musicians, and on and on and on.\u201d\u009d<\/p>\n