The economic policy regime of the period 1953-1973 - although unequivocally committed to the principle of safeguarding property rights - did not operate based on the rules of a purely free economy. It established a highly interventionist system and some of the mechanisms on which it was based were incompatible with the functioning of a genuinely open society. However, the regime had logical and operational coherence and it can safely be said that it yielded many of the expected results. It correctly assessed that the major objective for the Greek economy of the time was modernization and restructuring of its productive machinery. For this purpose, it created the necessary climate of security for the flourishing of investment activity and contributed - in a manner consistent with its intentions - to the rapid development of the country, with the main driving force being the broader industrial sector and investments. Especially during the period 1961-1973, the persistent strategy of industrialization that had been followed for years bore the richest fruits. At the same time, the regime managed to combine rapid development with low inflation and relatively low current account deficit.