ISET

May 11 saw the second discussion in ISET's ongoing series of international policy online panels which examine the possible socio-economic effects of the COVID-19 pandemic. The second panel was dedicated to what the higher education sector will look like when the pandemic is declared to be over.

Hosted and moderated once again by Dr. Tamar Sulukhia, ISET's Director, the distinguished panel was composed of Dr. Mikheil Chkheneli, the Georgian Minister of Education; Dr. Sebastian Molineus, the Regional Director of the South Caucasus for the World Bank; Karl Dittrich, President of European Quality Assurance Register for Higher Education; Dr. Sijbolt Noorda, President of the Magna Charta Observatory; and Dr. George Shavrashidze, Rector of Tbilisi State University.

On January 15, ISET had the privilege to host a living economic legend when Professor Erik S. Reinert visited the institute to participate in the Georgian-language launch of his book, How Rich Countries Got Rich, and Why Poor Countries Stay Poor. His work, which was originally published in 2007, has now been published in over twenty languages, and remains one of the most widely-discussed economic works of recent years.

The main message of the book is that neo-classical economics damage developing countries, mostly via adherence to the theory of comparative advantage of David Ricardo, an English economist of the XIX century. The theory posits the virtues of trade irrespective of the nature of the goods traded. Based on a long intellectual tradition started by the Italian economists Giovanni Botero and Antonio Serra, Professor Reinert stated that the country which trades increasing returns goods – e.g. high-end manufacture – has advantages over the country which trades diminishing returns goods – e.g. commodities.

Our Partners