FREE-market supporters are often asked to show concrete examples of countries where the policies they advocate have been successfully tried. Georgia, formerly part of the Soviet Union, offers a little-known economic success story.
Recently, after peaceful elections, President Mikheil Saakashvili handed power to Giorgi Margvelashvili, a candidate from the party elected by a majority in last year’s parliamentary elections. While controversy exists over Saakashvili’s 10-year term in office, the economic effects of his “Rose Revolution” have been widely praised. Inheriting a moribund economy corrupted by post-Soviet cronyism, his party of young, market-friendly politicians set about reversing the decline with reforms remarkable not only for boldness but their speed of implementation.
Comment
|
January 10th, 2014
Rose Revolution shows the results of freeing markets
Georgia’s president-elect Georgy Margvelashvili (R) and Prime Minister Bidzina Ivanishvili (C) — Image by © Ding Yuan/Xinhua Press/Corbis
by Neil Emerick and Gia Janderi
FREE-market supporters are often asked to show concrete examples of countries where the policies they advocate have been successfully tried. Georgia, formerly part of the Soviet Union, offers a little-known economic success story.
Recently, after peaceful elections, President Mikheil Saakashvili handed power to Giorgi Margvelashvili, a candidate from the party elected by a majority in last year’s parliamentary elections. While controversy exists over Saakashvili’s 10-year term in office, the economic effects of his “Rose Revolution” have been widely praised. Inheriting a moribund economy corrupted by post-Soviet cronyism, his party of young, market-friendly politicians set about reversing the decline with reforms remarkable not only for boldness but their speed of implementation.
Continue reading…
The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
Related
Comment
How Laissez-Faire Made Sweden Rich
November 6th, 2013
Comment
EU Interchange Fee Regulation Must Be Rethought
April 7th, 2015
Comment
In Chile, Stagnation and Stasis Despite Shifting Politics
October 12th, 2017
Comment
Big Government Stands In the Way of Success for Developing Countries
August 30th, 2019
Comment
“Term Limits – Enough is Enough”
May 6th, 2013
Sendinblue Newsletter