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.
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.
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.
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.
02
December
2011
Recently, I attended a show by the famous Erisioni dancing group, which was performing in Georgia for the first time after two years of constant traveling abroad. The Georgian dancers in traditional costumes were sensational, but as an economist, a minor incident caught my attention nearly as much as the Erisioni ensemble.
