ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Jun
18

Georgian and Armenian “Deplorables” and "Desperados" Taking It to the Streets

Georgian and Armenian ruling parties have been until recently basking in the glory of high GDP growth rates. Armenia’s stellar growth performance of 7.5% in 2017 and Georgia’s respectable 5% are, indeed, worthy of praise. However, do these figures really matter for the objective well-being of the majority of Georgians and Armenians? Second, how does economic growth, as measured by GDP, affect people’s subjective perception of happiness? Third, what does it do to crime rates and people’s appetite for political representation, social justice and fairness? ...
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Jun
18

The Quest of Finding Blue Money

Do you happen to have some 1.7 trillion USD to spare? Somewhere between 2 and 10% of the Georgian population suffers from lack of basic access to drinking water (Global High-level Panel on Water and Peace, 2017; The Global Water Partnership and OECD, 2015). Globally, 1 in 4 people will be affected by shortages of fresh water by the year 2050 (United Nations, 2018). It is therefore necessary to look at financial instruments that could help safeguard the supply of fresh water. Here, we will look at examples of such financial instruments, which have, for in...
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Jun
11

Sweet Little Lies – Things That Make Us “Happy”

  On May 17, 2017, the Georgian government adopted amendments to the Tobacco Control Law with 85 votes in favor, and only one against. This highly debated new regulation, which bans smoking in public places, was initiated by Parliament member Ms. Guguli Maghradze who just recently discussed the obesity problem in Georgia, which is caused partly by excess sugar consumption. Georgian public which is familiar with statements turning into law considered Ms. Maghradze’s statement as a prelude to enacting a sugar tax in Georgia. During the informal interv...
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Jun
04

When Football Meets Finance, Education Scores

World Cup 2018 is getting close and football can already be felt in the air. The squads are almost finalized, new jersies are already on sale, and fan clubs are preparing venues to watch football. These are all traditional preparation for the World  Cup, but interestingly for me, and possibly for you as well, football has also affected education, specifically financial education. If you are intersted in how football and financial education are linked, Financial Football is the answer. To give you some background information before you test the game ...
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May
21

Lifelong Learning and Adult Education: Should You Take a Dance and/or a Computer Programming Class?

That there is a persistent demand for adult education should come as no surprise. Most people would agree that learning is a lifelong process. A distinction, however, should be made between the notion of learning understood as a process of self-discovery over one’s lifetime, and learning understood in terms of the acquisition of a certain set of skills, often for the purpose of advancing one’s position in the labor market. The two notions, although distinct, are related. It can be argued, for example, that the more skills we have, the more we can engage ...
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May
14

Air Quality in Georgia. How Are We Doing?

If you are a governmental stakeholder, civil society organization, research institute or a concerned citizen pondering the state of the environment, the biennial Environmental Performance Index (EPI) tells an inconvenient truth regarding the trajectory of each country and their performance. The rankings provide unpolished results concerning countries and their commitments, or lack thereof, to the Sustainable Development Goals (SDGs) and other complementary international agreements. The EPI list should provide signposts for policymakers to fathom what act...
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