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Riding the Dragon
03 June 2013

Cultural and intellectual achievements herald the economic success of a people, and the Chinese cultural and intellectual heritage is breathtaking. The Chinese discovered gunpowder, the compass, and the movable type printing press long before the Europeans.

Dr. Feess Holds a Seminar on Competition Policy at ISET
16 May 2013

On May 1, 2013, Professor Eberhard Feess of the Frankfurt School of Finance and Management, held a seminar at ISET on Competition Policy. The presentation covered theoretical and applied aspects of competition policy and its relevance to Georgia.

The Gender Pay Gap
09 April 2013

Large gaps exist between male and female wages across the world. Eurostat data about the unadjusted Gender Pay Gap (GPG) represent the difference between average gross hourly earnings of male and female paid employees as a percentage of average gross hourly earnings of male paid employees.

Arbitrage? Not in Georgia!
29 March 2013

I have snapped the picture above in one of Tbilisi’s main streets. To the economist’s eye, however, this picture should be disturbing. While the general observer will see clean and wide sidewalks, beautiful classical-style buildings, and a single pedestrian in this early hour of the day, one also sees two adjacent currency exchange booths (Lombardi, as they are called here).

On Social Planning, Symphonies and Cacophonies
22 March 2013

An unprejudiced look at the Georgian economy is rather disenchanting. Starting in 1990 at a per capita income that was close to Poland’s, Georgia went into a free fall as a result of secession wars, loss of markets, an explosion of crime and corruption, and the staggering incompetency of its governments.

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