ISET

On Thursday, November 19, ISET hosted Zurab Japaridze, a member of the Parliament of Georgia. The title of his presentation was “As of the Argonauts to Shevardnadze”. Zurab presented the economic history of Georgia and discussed various factors affecting its development along the way. The material was unique and heavily based on different alternative historical sources describing economic phenomena of the past. Zurab described history in the context of geo-political and foreign relationships. He tried to show that the success of the country was always tied to its economic situation. Among others, he presented thoughtful economic reforms of David the Builder which led to country’s prosperity. Zurab hypothesized that later failure against Mongols was caused by the weakened economy. Discovered fake money from King Tamar’s period indicates that country’s economic situation was not healthy.

On November 18th, ISET hosted Principle Economist of Asian Development Bank, Dr. Donghyun Park, who gave a presentation on Inequality, Inclusive Growth, and Fiscal Policy in Asia.

Dr. Donghyun Park discussed how a recent sharp growth in Asia had a positive effect on the reduction of poverty in the region. However, income inequality is still high and in many Asian countries keeps growing. International experience shows that public spending can reduce income inequality. Representative examples of this trend are government expenditures on education and health. By opening more public schools with better educational level, government helps poor portion of population, as rich people always have option to receive good education from expensive private schools.

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