Early Life and Career
Born in Athens in 1904, Zolotas studied economics at the University of Athens, and later studied in Leipzig and Paris. He came from a wealthy family of goldsmiths with roots in pre-revolutionary Russia. In 1928 he became Professor of Economics at Athens University and at Aristotle University of Thessaloniki, a post he held until 1968, when he resigned in protest at the military regime which had come to power in 1967. He was a member of the Board of Directors of UNRRA in 1946 and held senior posts in the International Monetary Fund and other international organisations in 1946 and 1981.
Zolotas was director of the Bank of Greece in 1944–1945, 1955–1967 (when he resigned in protest at the regime), and 1974–1981. He published many works on Greek and international economic topics. He was a Keynesian, and was active in socialist circles with his close friend, Professor Angelos Angelopoulos. He is also famous for demonstrating the contribution of Greek language to the English vocabulary by making English speeches, as he said, "using with the exception of articles and prepositions only Greek words", to foreign audiences.
When the elections of November 1989 failed to give a majority to either the PASOK party of Andreas Papandreou or the New Democracy party of Constantine Mitsotakis, Zolotas, then aged 85, agreed to become Prime Minister at head of a non-party administration until fresh elections could be held. He stepped down after the election of April 1990 which gave Mitsotakis a narrow majority.
He was a workaholic and an avid winter swimmer, making a point of swimming every morning throughout the year even into his nineties.
His book Economic Growth and Declining Social Welfare advances the idea that in modern economic growth there is an increasing output of useless and even discomforting things, such as advertising. For that reason modern economic growth cannot be at all considered as creating conditions for further human happiness, a thesis quite in agreement with ideas by authors such as Richard Easterlin or Herman Daly.
Read more about this topic: Xenophon Zolotas
Famous quotes containing the words early, life and/or career:
“As I went forth early on a still and frosty morning, the trees looked like airy creatures of darkness caught napping; on this side huddled together, with their gray hairs streaming, in a secluded valley which the sun had not penetrated; on that, hurrying off in Indian file along some watercourse, while the shrubs and grasses, like elves and fairies of the night, sought to hide their diminished heads in the snow.”
—Henry David Thoreau (1817–1862)
“There was never a revolution to equal it, and never a city more glorious than Petrograd, and for all that period of my life I lived another and braved the ice of winter and the summer flies in Vyborg while across my adopted country of the past, winds of the revolution blew their flame, and all of us suffered hunger while we drank at the wine of equality.”
—Norman Mailer (b. 1923)
“A black boxer’s career is the perfect metaphor for the career of a black male. Every day is like being in the gym, sparring with impersonal opponents as one faces the rudeness and hostility that a black male must confront in the United States, where he is the object of both fear and fascination.”
—Ishmael Reed (b. 1938)