Teimuraz Beridze, GEORGIA IN TRANSITION THREE DECADES ON. Publishing House “UNIVERSALI”. Tbilisi, 2025, 185p.

The transition to a market economy in Georgia actually took place in parallel with the process of state restoration, due to which Georgian economic science also went through several important stages distinguished by fundamentally new features and regularities.
At the first stage, the basic concepts, categories, action plans, and programs were quickly and often unsystematically transferred and adapted to Georgian reality, which generally characterizes a developed market economy.
At the second stage, Georgian economic science began to characterize the ongoing and often contradictory processes of the market economy in the country, taking into account the specifics and peculiarities that were and are observed in Georgia.
At the third, modern stage, which can already be boldly called the international expansionism of Georgian economic thought and views, Georgian economists not only conduct a complex, “spectral” analysis of the processes taking place in the country “at the level of world standards”, but also boldly diagnose the processes taking place in the global economy and provide a recipe for the formation and strengthening of positive trends in a particular sphere or aspect of the national or global economy.
A characteristic work of economic science for this stage is the book “Georgia in Transition, Three Decades on”, published in English by Teimuraz Beridze, a professor at Tbilisi State University and Doctor of Economics. It presents at a high academic level the entire palette of problems and challenges that the Georgian economy has faced over the past three decades (the first steps of the transition to a market economy, its peculiarities, the so-called “shock therapy”, the difficulties of economic reforms, the steps taken towards revitalizing and actually restoring the economy after the collapse in the first half of the 1990s...), and assesses both the successes achieved and the missed opportunities.
It is well known that in what extremely difficult, contradictory conditions the transition to a market economy took place in Georgia - the difficulties arising from the absence of a proven, classical, uniform, and acceptable model of such a transition for all countries were amplified and complicated by dramatic processes, civil and ethnic confrontations in two historical regions of Georgia. That is why the economic decline in Georgia was much more extensive than in any other post-Soviet country. Mr. Teimuraz Beridze provides a scientific characterization of the problems arising during the transition to a market economy, and with the help of rich statistical material, presents the dynamics of the main macroeconomic parameters of our country during this period.
The book objectively describes the nature of the transition period, the main macroeconomic trends, the monetary and credit system, its overall characteristics and periodization in Georgia, the state\'s industrial policy and trade regime, the characteristics of the privatization process, and its macroeconomic results. The author does not shy away from discussing such topics as the unobservable economy, its sectoral (industry, construction, services...) profile, and its reflection in the modern accounting system. The economic and legal aspects of property related to corruption are also not left out of his attention, and he has formulated the principles of an economic approach to crime and punishment.
Of particular interest to foreign readers will be those parts of the book that are devoted to the characterization of the investment opportunities and national economic model of Georgia involved in the process of economic growth and globalization, and the latter\'s attitude to the globalization process. The scientist considers the process of regional economic integration to be a necessary and inevitable path towards inclusion in the global economy.
The work provides an opportunity to convince the reader of the maximum openness and growing potential of our country\'s economy. The author unambiguously and unambiguously develops the thesis on the importance of economic growth in the successful implementation of the necessary reforms for the transition of the national economy to market rails and in increasing the well-being of the population. In this aspect, the author distinguishes 3 groups of factors that play a special role in Georgia\'s economic growth: a) supply factors (natural resources, labor resources, volume of fixed capital, technologies); b) demand factors (volume of joint expenses); and c) distribution factors (effective use of resources). He notes the role of each of them in achieving a common result and advancing the national economy.
Among the positive factors necessary for economic progress and growth, the author pays special attention to effective industrial policy and trade regime in foreign economic relations, and as a condition for the success of this process, the level of education of the population and the entrepreneurial spirit in society. The connection of these factors with the increase in the standard of living of the population and the reduction of poverty is emphasized.
Economics is a purposeful, rational action of people using limited resources. Therefore, social progress and well-being largely depend on the number, productivity, skills, and efficiency of people who put these resources into action - the workforce. Taking this into account, the author pays great attention to the analysis of the demand and supply of qualified labor and the issues of training personnel relevant to the labor market.
The author of the book is not only a prominent representative of the modern Georgian economic school, but his biography is decorated with the leadership of the Statistical Service in the most difficult, dramatic, and at the same time, extremely interesting period, when statistics were being reorganized in accordance with the requirements and principles of a market economy. Experience in the production and organization of monitoring of statistical information helps him to evaluate events and processes in the economy (and not only throughout Georgia) in a complex way, in their cause-and-effect relationship.
It should be noted that the mentioned book is doubly interesting and noteworthy for foreign readers: firstly, it provides an idea of the modern level of economic science in Georgia, and secondly, as a work written in English, it creates a complete picture for foreign readers of the real state of the Georgian economy, its potential, legal and investment background, existing problems, ways and possibilities of overcoming them, and thus, for businessmen and investors wishing to establish business relations, it actually represents an advertising booklet that provides a complete picture of the current situation in Georgia. I am sure that the mentioned work successfully fulfills its main task: to open up to foreign readers, representatives of the business sphere, potential investors an idea, even complex, of our country as a "terra incognito", offering them to more boldly enter the door of the Georgian economy as an object of new opportunities and success, to connect their own professional, commercial or investment goals or interests with our country. Thus, the mentioned work successfully fulfills the role of a kind of “navigator” and “road map” for representatives of the mentioned category of business circles.
It is noteworthy that the book is preceded by a foreword by Dr. Gordon L. Brady, former chief economist of the US Senate Joint Economic Committee, professor at the University of Ottawa, in which he gives high marks to both the mentioned work of the Georgian professor and his previous publications.
At first glance, economic science is a part of intangible wealth; however, it is precisely through its visions, conclusions, and recommendations that the acceleration of the process of material wealth production and civilizational progress is carried out. In this aspect, Mr. Teimuraz Beridze\'s work, along with the foreign audience, is a significant acquisition for local readers as well, for those whose interest is in the economy and economic policy of modern Georgia, including those who shape and flesh out this vitally important policy for the progress and development of our country.

Ioseb Archvadze
Doctor of Economics,
Professor at the Central European University
December, 05, 2025, Tbilisi.