Georgia’s post communist capitalism

Economic analyst, former minister and MP Lado Papava thinks that after 20 years of post soviet development we can see that Baltic countries have managed to transform their economy to a European standard whereas the rest of the post soviet countries been quite unsuccessful. Georgia moved into a market economy but this was not created as a European type of market economy. It took on an ugly form of market economy which is far removed from western style capitalism but more like so called post communist capitalism. Since regaining its independence, Georgia has faced many problems, conflicts inside the country, inflation, the war with Russia, world economic crisis and other different problems. Therefore professor Papava concludes that Georgia's economic development is very confused. It appears new liberal whereas it is new Bolshevik and therefore the country is far from achieving European standards.