On November 22, President of ISET and BA Program Director Mr. Eric Livny gave an insightful presentation to the very first cohort of ISET BA Program students, regarding the importance and perks of coordination.

Mr. Livny opened his speech with a famous quote by Adam Smith, and then discussed whether it is always enough for the match of Supply and Demand that “it is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest”. Mr Livny stressed that “chicken and egg” problems frequently hinder the process of metaphorically delivering a dinner to a consumer’s table from the butcher due to a lack of coordination between the two; this is keenly felt in economics, and Mr. Livny explained the necessity for the World Bank to develop well-organized and managed Value Chains in Georgia.

On October 20, members of the ISET community attended a guest lecture on international taxation from Ms. Femke van der Zeijden from PricewaterhouseCoopers Netherlands’ office. Ms. Zeijdenhas introduced issues of international taxation from legal perspective. This was particularly useful and interesting for the audience as it primarily consisted of economists, for whom the legal aspects and problems of different taxation policies are not well known.

Ms. Zeijden tailored her lecture to show the challenges in international taxation coming from development of information technologies. Specifically, the lecture touched upon the following four important directions which present the most significant challenges: (i) Globalization, (ii) Digitalization, (iii) Transparency and (iv) Multinational corporations.

In the world of the 21st century, the number of people living without electricity in their homes is 1.3 billion. Even among those who have access, many do not own basic assets such as refrigerators, motorized transport, or washing machines. However, it is anticipated that over the next several decades, wide-scale poverty alleviation programs, as well as continued economic growth, will lift the incomes of many of the world’s poor. As incomes increase, families formerly living in poverty will for the first-time purchase energy-using assets.

How will the global demand for energy rise as a consequence? To answer that question, Dr. Alan Fuchs, Senior Economist in the Poverty and Equity Global Practice of the World Bank, made a presentation at ISET on October 5th.

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