"Des waerelds doen en doolen, is maar een mallemoolen,"

"Des waerelds doen en doolen, is maar een mallemoolen," engraving from Het Groote Tafereel der Dwaasheid, 1720.

"The actions and designs of the world go round as if in a mill." South Sea bubble financial crisis.

Friday, January 18, 2013

Georgia's unobserved economy















has an importance for the dynamic of entrepreneurship. Half of the work force is considered as self-employed, officially unobserved. This represents a pool of entrepreneurial resource that Georgian policy makers shouldn't underestimate. So far little has been done. Agricultural centers with shiny big John Deer tractors  have mushroomed in the regions, but haven't been visited by anyone (expect official delegation), as it costs too much for farmers to rent this type of machinery, which is anyway not adapted to the small fields they have to plow. Details and figures in the article I wrote for the Caucasus Analytical Digest. 

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