Any economic system in any country in the world, especially at the end of the current century, is a unique synthesis of legal and illegalâshadow economic activity. The illegal, hidden economy functions on a par with the legal economy, has enormous dimensions, and in some countries practically...

As a number of scholars have pointed out, the transition to a new paradigm of economic science requires rethinking many concepts that have been affirmed in economic science.sup1/sup We would like to focus attention on such an important sphere of research as the economic activity of the...

The author attempts to show what actual achievements have resulted from economic reforms carried out in Georgia since the 2003 "Rose Revolution," and to debunk some fundamental myths surrounding these reforms. This analysis leads him to conclude that Georgia can be regarded as a symbiosis of...

The economy of the former Soviet Union was characterized by a high degree of integration of the economies of all of the Union republics, and was based on an explicit nationwide division of labor. This explains why the existence of the entities of the Union in a unified nation for seventy long...

Purpose – The paper investigates the utility of economic theory for post-Communist economic transformation. It serves to explain the main reasons for market reform failure in different post-Communist countries. Design/methodology/approach – A literature review suggests that after the...

Purpose – The purpose of this paper is to distinguish the economic foundations of post-Communist capitalism and to examine the key economic problems of this type of society in the context of the modern financial crisis. Design/methodology/approach – This question is approached by studying...

The author criticizes the Georgian president for corrupt, populist, and incompetent economic policies and the IMF and World Bank for conniving at these policies for unprofessional reasons.