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ISET Economist Blog

A blog about economics in the South Caucasus.
Jan
10

The Paths Towards Inclusive Economic Growth in Georgia

INTRODUCTION1 The economic policies of successive Georgian governments have arguably lacked cohesive direction when it comes to inclusive growth. There still remains an open question of whether the overall goal has been to pull people from agriculture or to leave them where they are, while pushing productivity up via, for instance, funding the development of cooperatives or clusters. Concurrently, the state also has introduced industrial policies, like establishing SME support agencies that operate under the auspices of different ministries. Trying a lit...
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May
17

Chess Is to Play and Math Is for Life

  At times math teachers use a legend, “mathematics in the game of chess”, as an introduction to Exponential Functions. The original myth tells of a mathematician in India who invented the game of chess and was subsequently bestowed a vast reward for its creation. The king of India was so impressed by the game that he offered the mathematician to “name your reward!” The inventor responded, “My wish is simple. Just give me one grain of rice upon each square of the chessboard, such that one grain is placed on the first square, two on the second, four ...
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Apr
12

Red or Blue!

Have you ever wondered why the color of the United National Movement (UNM) is red while Georgian Dream (GD) is blue? Why not green and orange? It might be that red and blue offer a contrast, and they also symbolize quite different things.1 And, contrast is indeed what they each seek. These two parties have dominated Georgian politics since 2012, and it is now difficult to recall the subject they built a consensus around or even one that they have tried to discuss. The Organization for Security and Co-operation in Europe (OSCE), in its report on the 2018 ...
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Mar
25

IT Flu in the Armenian Labor Market

This article is based on field research and interviews with IT experts. We are living in an era of advanced technology, and with such rapid development the changing landscape of the online world has dramatically changed our daily lives. There is no doubt that over the years technology has created amazingly useful resources, which has placed all the information we could need at our fingertips. Software is devouring the world, and you can imagine that this is great news for IT professionals. It’s not just Facebook and Google that need IT professionals. Alm...
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Nov
20

Money Can’t Buy Happiness. Or Can It? A Case Study from Yerevan

I have been living away from Yerevan for four years. Over these years, every time I visited my city, I noticed more and more new (and fancy) cafes. Over time, I also noticed that café visits seemed to grow in numbers and I started wondering whether it was just my impression or the reality. I have been particularly puzzled by the paradoxical nature of the fact that people always complain about their wages and living standards, yet they do not mind spending money in cafés. Wouldn’t they be better off by saving money and use it to improve their long-term li...
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