On September 1, 2014, the Georgian society woke up to a very unpleasant reality – after years of extremely welcoming visa regime which put the country on the map as an attractive tourist and foreign direct investment destination, a new migration law regulating foreigners admission and stay in Georgia came into effect.

Many of the influential critics of capitalism shared a sentiment that life under competitive pressure is not good for human beings. Marx felt deep uneasiness about the fact that workers have to “sell” their workforce – he feared that this would contribute to “alienation” between the worker and their work. One of the main objectives of the Socialist society was therefore to create a new kind of human, a human who would not compete with others in the market arenas and who would not be driven by selfish motives.

Bubbles belong to the most fascinating phenomena in a market. Suddenly, people are willing to pay prices that are completely out of touch with the fundamental economic values of assets. In the stock market bubble of the 1920s, persons who had never before considered becoming investors borrowed money and bought shares, so as not to miss out on the chance to become rich.

According to the latest GEOSTAT figures, merchandize exports from Georgia decreased by 1.63% between 2013 and 2014. This is certainly not great news for the country, but does it imply that Georgian goods have become less competitive on the world market? Recent trade data suggest that this is not necessarily the case.

During the last three months, the Agricultural Policy Research Center (APRC) of ISET-PI was working on a study about family farming in Georgia. Within this project, we conducted interviews with farmers and owners of agribusinesses. These interviews elicited many intriguing facets of Georgian agriculture, but one aspect I found particularly interesting was that Georgian farmers apparently have a rather negative view on agricultural jobs.