Xenophon Zolotas
Encyclopedia
Xenophon Zolotas was a Greek
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....

 economist and served as an interim non-party Prime Minister of Greece
Prime Minister of Greece
The Prime Minister of Greece , officially the Prime Minister of the Hellenic Republic , is the head of government of the Hellenic Republic and the leader of the Greek cabinet. The current interim Prime Minister is Lucas Papademos, a former Vice President of the European Central Bank, following...

.

Early life and career

Born in Athens
Athens
Athens , is the capital and largest city of Greece. Athens dominates the Attica region and is one of the world's oldest cities, as its recorded history spans around 3,400 years. Classical Athens was a powerful city-state...

 in 1904, Zolotas studied economics at the University of Athens, and later studied in Leipzig
Leipzig
Leipzig Leipzig has always been a trade city, situated during the time of the Holy Roman Empire at the intersection of the Via Regia and Via Imperii, two important trade routes. At one time, Leipzig was one of the major European centres of learning and culture in fields such as music and publishing...

 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
Aristotle University of Thessaloniki
The Aristotle University of Thessaloniki is the largest Greek university, and the largest university in the Balkans. It was named after the philosopher Aristotle, who was born in Stageira, Chalcidice, about 55 km east of Thessaloniki, in Central Macedonia...

, 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
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...

 and other international organisations in 1946 and 1981.

Zolotas was director of the Bank of Greece
Bank of Greece
The Bank of Greece is the nationalcentral bank of Greece, located in Athens on Panepistimiou Street, with several branches across the country. Founded in 1927...

 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
Greek language
Greek is an independent branch of the Indo-European family of languages. Native to the southern Balkans, it has the longest documented history of any Indo-European language, spanning 34 centuries of written records. Its writing system has been the Greek alphabet for the majority of its history;...

 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
Panhellenic Socialist Movement
The Panhellenic Socialist Movement , known mostly by its acronym PASOK , is one of the two major political parties in Greece. Founded on 3 September 1974 by Andreas Papandreou, in 1981 PASOK became Greece's first social democratic party to win a majority in parliament.The party is a socialist party...

 party of Andreas Papandreou
Andreas Papandreou
Andreas G. Papandreou ; 5 February 1919 – 23 June 1996) was a Greek economist, a socialist politician and a dominant figure in Greek politics. The son of Georgios Papandreou, Andreas was a Harvard-trained academic...

 or the New Democracy
New Democracy (Greece)
New Democracy is the main centre-right political party and one of the two major parties in Greece. It was founded in 1974 by Konstantinos Karamanlis and formed the first cabinet of the Third Hellenic Republic...

 party of Constantine Mitsotakis
Constantine Mitsotakis
Constantine Mitsotakis , a Greek politician, was born in Chania, Crete. He came from a political family: his father and grandfathers were members of parliament, and the great liberal leader Eleftherios Venizelos was his uncle...

, Zolotas, then aged 85, agreed to become Prime Minister at head of a non-party administration until fresh elections could be held. He resigned when the election of April 1990 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.

Speeches

Two of his speeches in English are considered to be historic. This is because they contained only terms of Greek origin. Here are the texts:

1957

I always wished to address this Assembly in Greek, but realized that it would have been indeed "Greek" to all present in this room. I found out, however, that I could make my address in Greek which would still be English to everybody. With your permission, Mr. Chairman, l shall do it now, using with the exception of articles and prepositions, only Greek words.

Kyrie, I eulogize the archons of the Panethnic Numismatic Thesaurus and the Ecumenical Trapeza for the orthodoxy of their axioms, methods and policies, although there is an episode of cacophony of the Trapeza with Hellas. With enthusiasm we dialogue and synagonize at the synods of our didymous organizations in which polymorphous economic ideas and dogmas are analyzed and synthesized. Our critical problems such as the numismatic plethora generate some agony and melancholy. This phenomenon is characteristic of our epoch. But, to my thesis, we have the dynamism to program therapeutic practices as a prophylaxis from chaos and catastrophe. In parallel, a Panethnic unhypocritical economic synergy and harmonization in a democratic climate is basic. I apologize for my eccentric monologue. I emphasize my euharistia to you, Kyrie to the eugenic and generous American Ethnos and to the organizers and protagonists of his Amphictyony and the gastronomic symposia.

1959

Kyrie, it is Zeus' anathema on our epoch for the dynamism of our economies and the heresy of our economic methods and policies that we should agonize the Scylla of numismatic plethora and the Charybdis of economic anaemia. It is not my idiosyncrasy to be ironic or sarcastic, but my diagnosis would be that politicians are rather cryptoplethorists. Although they emphatically stigmatize numismatic plethora, they energize it through their tactics and practices. Our policies have to be based more on economic and less on political criteria. Our gnomon has to be a metron between political, strategic and philanthropic scopes. Political magic has always been anti-economic. In an epoch characterized by monopolies, oligopolies, monopsonies, monopolistic antagonism and polymorphous inelasticities, our policies have to be more orthological. But this should not be metamorphosed into plethorophobia, which is endemic among academic economists. Numismatic symmetry should not hyper-antagonize economic acme. A greater harmonization between the practices of the economic and numismatic archons is basic. Parallel to this, we have to synchronize and harmonize more and more our economic and numismatic policies panethnically. These scopes are more practicable now, when the prognostics of the political and economic barometer are halcyonic. The history of our didymus organizations in this sphere has been didactic and their gnostic practices will always be a tonic to the polyonymous and idiomorphous ethnical economies. The genesis of the programmed organization will dynamize these policies. Therefore, I sympathize, although not without criticism on one or two themes, with the apostles and the hierarchy of our organs in their zeal to program orthodox economic and numismatic policies, although I have some logomachy with them. I apologize for having tyrannized you with my Hellenic phraseology. In my epilogue, I emphasize my eulogy to the philoxenous autochthons of this cosmopolitan metropolis and my encomium to you, Kyrie, and the stenographers.

External links

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