ISET Economist Blog

A blog about economics in the South Caucasus.

Norberto Pignatti has not set their biography yet


Middle class, safety nets and social contracts: on the road to development

I was happy to see that my blog post “Who needs a safety net?” stimulated a lively debate, which was exactly its purpose. However, so many points have been raised that I have decided to write a new post on the topic rather than answering to each one of them separately. Johannes Jütting (Head of the Poverty Reduction section at the OECD Development Center in Paris) argues in an article recently published by The Georgian Times in its online version that “rising inequality, lack of civic participation, political apathy, and a dearth of good jobs, particular...
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Who needs a safety net?

One of the definitions of a safety net that one can find on the internet is the following: “a net placed to catch an acrobat or similar performer in case of a fall”. This brings to my mind images of thrilling performances I saw at the circus when I was a child. I have to admit in most cases a safety net was used. It was only removed on some rare occasions, and the increased tension became palpable. We knew that only the best acrobats could dare perform in those conditions because even a slight mistake or distraction could lead to disastrous conseque...
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