11
April
2013
As you can see, and contrary to widespread perceptions, there is no significant augmentation of the urban areas' population in Georgia in the last two decades or so.
05
April
2013
Many countries in the world run their public pension systems under the so-called pay-as-you-go (PAYG) scheme, where pensioners receive their money from those who are currently working.
02
April
2013
When economists discuss the constraints for the economic development of a country like Georgia, one thing is always taken as given: That people have enough to eat.
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).
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.
