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No, you make more money exporting value-added products (like olive oil) than raw ingredients (like olives). Basic economics says you want to move higher up the
by zb 10y ago
No, you make more money exporting value-added products (like olive oil) than raw ingredients (like olives). Basic economics says you want to move higher up the value chain, and that's what (I'm told) they did.
Of course this caused further problems for Greece and Italy, which were already not in good shape.