Blog Posts

<a href="">Pawnshop Mentality</a>

- 02 June 2014

Pawnshop Mentality

“Jewelry you can pawn whenever you encounter financial difficulties”, we were told by a friend. In our circles of acquaintances there are quite a number of people who enjoy the services of pawnshops. The reasons range from renovating apartments, paying tuition for children, and buying...

<a href="">Farmer Groups: Why We Love Them and When They are Successful</a>

- 30 May 2014

Farmer Groups: Why We Love Them and When They are Successful

There are many reasons to love the concept of farmer cooperation (and cooperation more generally). To begin with, there is a great aesthetic value in seeing people coming together, sharing resources and helping each other. After all, instinctive collectivism was the basic condition of human...

<a href=""> Discrimination in Georgia</a>

- 26 May 2014

Discrimination in Georgia

On May 2, 2014, the Georgian parliament unanimously passed the law on the elimination of any form of discrimination. The stated objective of the law is to ensure that any physical or legal entity equally benefits from all rights defined by Georgian legislation, irrespective of...

<a href="">Georgian Shadow Economy – its Past and its Legacy</a>

- 23 May 2014

Georgian Shadow Economy – its Past and its Legacy

The existence of a sizeable shadow (or second, informal) economy in the USSR was and is well-known. The Soviet era was characterized by a very rigid formal system with a high level of bureaucratization and inefficient planning. This resulted in many problems, both in terms...

<a href="">Becoming Rich Delayed</a>

- 19 May 2014

Becoming Rich Delayed

During my morning shower, I like to think about Georgia’s economic prospects and how the country should develop. Since the Rose Revolution, there was a lot of “catch up growth”, i.e. growth that stems from returning from a state of chaos to normal economic conditions. Yet...

<a href=""> Towards a Globalized Peasant Agriculture</a>

- 16 May 2014

Towards a Globalized Peasant Agriculture

In my essay on economic development (“What worked”, MESSENGER, July 3/2013) I cited the High-Level Panel of Eminent Persons on “A New Global Partnership” (UN Publications, 2013) that aims at eradicating absolute poverty and transform national economies through sustainable development. Thus, in the chapter on...

<a href="">Removing Educational Bottlenecks</a>

- 12 May 2014

Removing Educational Bottlenecks

Speaking with managers of companies operating in Georgia, one frequently hears complaints about a lack of certain specialists in the Georgian labor market. For instance, firms operating in the construction sector are often forced to hire foreign experts, as they do not find sufficiently qualified...

<a href="">Economic Reasons for the Breakup of Georgia</a>

- 09 May 2014

Economic Reasons for the Breakup of Georgia

In the 15th century, the Kingdom of Georgia started a painful process of disintegration from which it did not recover until the modern era, and ultimately, Georgia’s breakup at the end of the medieval age accounts for the regrettable fact that the country could not...

<a href="">The Mystery of the Russian Economy (Part 2)</a>

- 05 May 2014

The Mystery of the Russian Economy (Part 2)

For a long time Russia was seen as the land of opportunity for foreign investors. The allure of the country with large population, vast natural resources, and more importantly, a large middle class willing to spend money, was irresistible. The burgeoning economy, however, held a...

<a href="">The Mystery of the Russian Economy</a>

- 28 April 2014

The Mystery of the Russian Economy

Until very recently Russia was considered by many foreign companies a somewhat difficult but promising country for investment, a “land of opportunity” that perhaps necessarily came with a hefty dose of a “riddle wrapped in mystery inside of an enigma”. The difficulty was stemming primarily...

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