Modern economists understand that it is impossible to help the economy when abstract people who always display rational behaviors are the ones being studied. That is why current researchers have begun to study psychology, education, and healthcare. From that perspective, despair becomes an economic issue. Deaton and Case claim that it is difficult to expect serious progress in the economy if the education and healthcare systems are not dramatically improved. I believe that this claim is also true for Armenia. The aforementioned three demonstrations of despair are luckily not widespread among Armenians. Discouraged Armenians typically choose to emigrate. I do not think this will not continue when the borders are reopened and flights fully operate again. But the other conclusions regarding healthcare and education are true for any country, in my opinion.
Read the entire editorial in Armenian: https://www.aravot.am/2020/09/02/1132505/?fbclid=IwAR0H23w2GtuYfHKbUeu4lH3qRzUmq4Mjy_CfLG25V7iKU1JSLKKsZzWEQjo
Aram Abrahamyan
