ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Apr
10

Thousands of Tractors

One of the recurring themes of Soviet propaganda was the tractor. Think for example of the film “Zemlya” by Alexander Dovzhenko, which features the triumphant arrival of the first tractor in a village and leaves no doubt that communism is to thank. Fast forward eighty years and this press release leaves no doubt that the President of Georgia is to thank for the arrival of 126 tractors to Georgia. The tractors will be allocated to 12 service centers across Georgia, giving small farmers access to modern agricultural equipment. It s...
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Guest — Eric
You may be right in theory. In the Georgian reality, I am not so sure. The donor community (surely, USAID, but maybe also others) ... Read More
Wednesday, 11 April 2012 12:12 AM
Guest — Michael
Yes, indeed in a monopolistic environment introducing government provided farming services as oompetitors improves the situation. ... Read More
Wednesday, 11 April 2012 12:12 AM
Guest — Hans
I agree with Eric. Yes, you'd hope for market entry by competitors, but this is not happening for a number of reasons, and working... Read More
Wednesday, 11 April 2012 4:04 PM
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Dec
14

Land - Who Cares?

Classical production theory knows three so called “production factors”: labor, capital, and land. One needs a certain amount of each of these factors in order to set up a production of whatever good. Then, in the 20th century, it became common to not count land as a separate production factor anymore. Today, we usually speak about labor and capital, with the understanding that some of the capital is the land on which the production facilities are built. On the surface, this looks just like a pure change in terminology. Yet in fact it reflects an und...
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Guest — Yasya
Florian, I do not quite agree that land is less important for countries with more developed technologies and less reliance on natu... Read More
Thursday, 15 December 2011 1:01 AM
Guest — Florian
Dear Yasya,It is of course true that land is not TOTALLY irrelevant for economic development. My thesis was exaggerated and wouldn... Read More
Sunday, 18 December 2011 10:10 AM
Guest — Salome
yes, Western Europeans are smarter to invite countries in their Union as a member rather than actually conquering them,quote from ... Read More
Thursday, 15 December 2011 6:06 PM
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Dec
09

Twenty Years of Transition (From Nowhere to No Place?)

Twenty years ago, on 26 December 1991, USSR broke into 15 pieces, 15 independent states. Amid great hopes, each of these states embarked on a path of transition: from socialism, from one-party state system, from the relative security of a small city apartment, a dacha, and a Lada to… an uncertain future. For the small Baltic pieces of the USSR puzzle, this road led to EU membership and all of the associated goodies. For many others, however, this may have been a “transition from nowhere to no place” (see the eponymous 2004 bestseller by my number one con...
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Guest — Zak
Eric, a nice and valuable effort. But consider this: when Herfindahl index is used by economists (even though not many of the talk... Read More
Friday, 09 December 2011 5:05 PM
Guest — Eric
A very good point, Zak! The version of HH-PMI that I calculated for this post reflects one thing: political pluralism within a par... Read More
Friday, 09 December 2011 11:11 PM
Guest — Lasha
This is a good demonstration who you can misuse scientific methods. I am sure that this is terrible proxy to measure democratic tr... Read More
Friday, 09 December 2011 7:07 PM
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