Economic Freedom – The Way For The Georgian Economic Development
Economic freedom is one of the main fundamental research things of economic theory. All right-wing economic schools consider that economic freedom and competition is necessary for stable economic development in the market economy countries. Georgia is a developing transition country. In the soviet years economic freedom was insignifact, but after the republic gain independence it’s had started some attempts to take liberal reforms, which responds high-development western countries. Today, Georgia ranks 22nd in the world in economic freedom survey, which is provided by heritage foundation.
“Fundamentally, there are only two ways of coordinating the economic activities of millions. One is central direction involving the use of coercion—the technique of the army and of the modern totalitarian state. The other is voluntary co-operation of individuals—the technique of the market place.” - Milton Friedman
Keywords- Economic Freedom, GDP Growth, Liberalization. Conference topic: Macroeconomics.