How to transform a nation in ten steps
The Georgian recipe for “an amazing transformation”:
- Low and flat taxes
- Legislative commitment to reducing the government’s fiscal footprint (IE spend less!)
- Deregulation and cutting red tape
- And thereby suppressing corruption
- Unilateral free trade: no import tariffs or barriers of any kind
- Very flexible labour legislation
- No sector or industrial policy of any kind
- No subsidies, no preferences, no exemptions – no market-distorting practices
- No currency and capital controls
- Sound monetary policy with hawkish anti-inflationary stance
See also: Tory conference: Georgia’s Prime Minister makes surprise appearance.
Hat tip to Dr Tim Evans
