23
January
2013
In 1993 Joel Waldfogel published a paper “The Deadweight Loss of Christmas” in which he declared that the tradition of gift-giving causes economic losses for society because recipients generally value the items they receive as gifts less than the price that was paid by the givers.
09
January
2013
In 1905, Max Weber, in his masterpiece, “The Protestant Ethics and Spirit of Capitalism”, proposed an interesting hypothesis which claimed that Protestantism, Calvinism, and Puritan ethics influenced the development of capitalism.
22
December
2012
This blog post is a sequel to “Price of a Woman: Economic Rationale behind Marriage Payments in Georgia”. I recently found very interesting data about bride prices in the Georgian highlands and the North Caucasus, which I am now going to share with you.
12
December
2012
Below are Google Maps images of two rural communities (A and B) in Georgia. Please click the image to enlarge it.
10
December
2012
Poverty and income inequality are two of the top concerns for the newly elected Georgian government. Indeed, despite impressive growth performance (annual growth rates have averaged more than 6% since 2005), Georgia remains a poor country.
