My New Column: Economics & Georgia

Op-Ed

Starting this column is my New Year resolution. I think it is Georgia’s interaction with economy in general that matters most in 2020. Nothing is more topical than this because it is about the wellbeing of our society. To serve the purpose, I tried to get versed in the subject, and here I am with my amateurish but still curious thoughts on our bread and butter.

Let’s Learn the ABC of Economics

What is the most valuable prerequisite for Georgia’s bright future? The answer is simple: a developed economy. Yes, but where to get it from and how? Would long-term strategic thinking save the day for us? Possibly! But that likely won’t be enough! It is the whole range of smart political moves, lurking risks, furtively smiling opportunities, powerful economic tools and healthy monetary policy that we are faced with if we want to have an economically productive country, feeding the nation. On top of that, economy can serve as a steer to appreciate political and social tendencies, molding our lifestyle. Moreover, economy is the key to knowing what might happen to us in the future. Hence my infatuation with it!

I don’t want to be scared by its complexity. It’s not as tricky to understand as it seems to most of us. I have gotten over my stronger inhibitions with math and music by boldly putting my hands and wits to them. Thinking about the economy, we tend to think of the government actions that influence the economic process, but this is not all – there is much more to it that is not always on the surface for us to notice and consider.

One of the characteristic features of economics is that it has a proclivity to erupt right in front of our eyes, on an everyday basis, in the widest possible variety of ways and means, sometimes smooth and sensible, and at times unexpected and confusing. As a matter of fact, we humans are the walking parts of the entire economic body, getting bruised on its bumpy roads or pampered if we’re lucky. Economy hits us every second of our life, it concerns us, it dictates the rules of behavior, it feeds us, but also leaves us unfed and unclad if it is wronged and mistreated. This is why we have to be familiar with it even more than politics, but the pernicious tendency is prompting us rank-and-file to be plunged into politics more than economics, although the media is full of information on the economy which we tend to skip callously, delving passionately into political news and stories instead.

I am not going to explain what economy is – there are thousands of books and millions of articles dedicated to the subject. Mine is only a reminder that starting one’s own business is more winsome when equipped with at least a smattering of economics than entering the entrepreneurial realm without any knowledge of this fundamentally important science. Things change quickly, especially in the world of economics, and catching up with a change is a huge challenge. The money-making technique and strategy goes through alterations on a regular basis, and we are always lagging behind the process.

Couldn’t this be one of the reasons for our dissatisfaction with our standard of living? The suggestion then is to move from the raging ocean of politics to the virginal sea of economics and, gradually learning its ABC, to give ourselves up to what makes money, hence a good life, rather than being stuck engaged in an interminable political dialogue!

But let us at the same time be fair enough to admit that politics and economics are mutually determinative phenomena. To cut a long story short, I am starting this series of economic miniatures. The next piece is to be more specific, I promise. This one was just a warm-up introduction, conducive to instigating certain interest in the profession, suggested by an amateur, willing to entice as many people as possible into this enterprising endeavor which I am calling a slight economic discourse.

By Nugzar B. Ruhadze

Image source: medium.com