Policy Advice from Seneca and Machiavelli on the Greek Crisis

Since 2008 economic crisis has dominated global economic policy discussions, no more so than in Greece. In Greece, the imposition of austerity policies has caused immense social and political upheaval. I suggest that policy thinking about the current Greek debt crisis requires a broader engagement with global civic virtue. Specifically, I present a case for revisiting the political thought of Seneca and Machiavelli. Both discuss the virtue of mercy and its role in good governance policy. I argue that policy solutions for the economic crisis facing Greece and Europe need to be informed by their thinking.