When supply fails to meet demand

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Why there is so little new manufacturing activity in Georgia? One answer is the need for coordination among many independent actors – investors, suppliers of inputs and services, Georgian Railways and other logistics/transportation companies, universities and colleges, national government and local municipalities. In the absence of coordination – the essence of “new industrial policy” – investors will not invest, suppliers of necessary inputs and services will not set up their shop in Georgia, and Georgian youth will fail to study necessary skills. This lecture tells the story of a single investor, Rezo Vashakidze, who dared to revolutionize Georgia’s poultry industry and dwells on the reasons for his success.

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