This work examines the development of the Greek economy during the years 1950-1991. George A. Jouganatos divides that era into five separate political periods and evaluates each one's economic development. He supplies an overview of the political history for each period and provides a thorough analysis of specific economic policies and plans, as well as their impact on economic growth and development. The application of an original econometric model aids in the evaluation of Greek economic development over this 40-year span.

Advancing the argument that Greek economic development has progressed best under highly democratic conditions with independent progressive policy, Dr. Jouganatos recommends progressive reforms aimed at achieving independent economic development.