Monday, October 19, 2009

Professor from Harvard here today

I went to an interesting talk this evening presented by a big time Harvard guy but he was quite good and spoke so even I (a non-economist, non-international affairs major) could understand.

His position basically was that in order for a country to be prosperous it has to have a diversified economy and both export and import products that people want. He was specifically speaking about Azerbaijan since at some point the oil and gas reserves will run out and if this country doesn't began to broaden its' product based...they will be up a creek by 2050, if not sooner.

It's so clear to see since they don't really make or grow things...which is one reason why the neigboring countries need to open markets...Azebaijan needs to sell things to Georgia, Armenia, Turkey, Iran, Israel and the 'stan countries....we'll see.

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