This article continues the theme of ISET Economist blog “Decriminalize Marijuana?” written by my colleague Saba Devdariani in June 2015, where he described the philosophical aspects related to marijuana state regulations and medical consequences of its consumption.
RECENT CHANGES IN LEGISLATION
Three years after the blog was published, regulation of cannabis became the hottest topic of discussion in the social-political life of Georgia. On July 30th 2018, the Constitutional Court de jure legalized personal consumption of marijuana by declaring tha...
ISET Economist Blog
A blog about economics in the South Caucasus.
Oct
15
Apr
01
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Once dubbed Georgia's Abu Ghraib, Gldani Prison #8 has gone through a substantial makeover since its darkest hours in September 2012. The entire staff was replaced or retrained during 2013, swiftly and effectively ending human right violations. The following year, the prison won a prestigious award as Georgia’s best correctional facility. In 2015, about 180ha in the prison’s backyard became home to Bitfury, an international bitcoin industry pioneer. The company invested close to $100mln in its Gldani data center, placing the prison at the ep...
Mar
12
In January 2018, an IMF Working Paper published new results on the shadow economy situation for 158 countries from 1991 to 2015. According to Medina and Schneider (2018), the shadow economy in Georgia during that period constituted, on average, 64.9% of GDP - the highest indicator in the world! In 2015 (the last year available), things were slightly better for Georgia, with the share of shadow economy standing at 53%. Still, our country was “outshone” only by Zimbabwe (67%) and Haiti (56%) in the world rankings. To add insult to injury, Georgia’s results...
Dec
04
The South Caucasus is divided by high mountain ranges, often impassable political borders, and ethnic conflict zones. In addition to three independent states, the region also includes three unrecognized territories. Nakhichevan is separated from Azerbaijan’s mainland by Armenia’s Syunik region. Armenia’s border with Turkey and Azerbaijan, on the other hand, is sealed for political reasons.
Though trampled by politics, the economic arguments for greater regional integration in the South Caucasus are truly powerful. For one thing, thanks to its strategic l...
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