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Smokers in Post-Soviet Countries: Ill-Informed or Just Irrational?
23 March 2015

Tobacco consumption is widely known for its negative effects on health. According to the US Center for Disease Control and Prevention, just in the USA, an estimated 443,000 people die per year prematurely due to inhaling cigarette smoke. As there are 46 million smokers in the USA, it means that in any given year, the likelihood to “die prematurely” because of one’s smoking habit is almost 1% (under the admittedly strong assumption that these numbers are constant in the long run). If one smokes for 10 years, the probability that one’s life will be cut short goes up to 9%.

All the Roads Lead to Tskaltubo
20 March 2015

“Roulette until six in the evening. Lost everything”, notes Leo Tolstoy on July 14, 1857. He did not pen these words in Moscow or St Petersburg”, writes Elizabeth Neu. “It was in Baden-Baden that Tolstoy closed his diary with a sigh that night.”

Save the Georgian Bazaar!
13 March 2015

Open-air markets, so-called bazaars, are considered by many Georgians to be relics of the past. Progressive people buy in supermarkets with all its amenities: clean areas, shiny floors, the temperature regulated at a convenient level, the products placed in order and often arranged tastefully. Only backward people buy in a bazaar if there is a supermarket available.

Khachapuri Index as a Predictor of Structural Changes in the Economy
10 March 2015

In February, the average cost of cooking one standard Imeretian Khachapuri fell to 3.29GEL, which is 3.4% lower month-on-month (compared to January 2015), and 4.8% lower year-on-year (compared to February 2014).

What Can We Do about the Lari Depreciation?
06 March 2015

Unlike most commodities that are provided by private actors competing with each other, a currency is provided by a monopolist. The only institution that is allowed to produce laris is the National Bank of Georgia (NBG).

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