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The Store of Value
18 December 2011

Far from being the root of all evil, money is one of the most spectacularly useful human inventions. On par with the technology of a wheel, the technology of money has made civilization as we know it possible. But what kind of technology does money replace?

Land – Who Cares?
14 December 2011

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.

Good News for Some, Bad News for Others
11 December 2011

Cash remittances sent home by thousands of Armenians working in Russia and other countries increased by more than 23 percent in the first 10 months of this year compared to 2010, RFE/RL's Armenian Service reports.

Twenty Years of Transition (From Nowhere to No Place?)
09 December 2011

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.

At the Edges of Georgia
07 December 2011

This weekend we visited one of the more remote parts of Georgia, the Shiraki plains at the border to Azerbaijan. After passing through Dedoplis Tskaro, the district capital and largest town in this part of Georgia, we found ourselves on a bad road going all the way to the small town of Kasritstkali.

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