What does that tell you? Today we have 25 years of data … so you can tell a much better story.
You can tell the story of good times and of the big recession, and then the story of the comeback or the big recovery. He expects his students to make the best use of this in their work.
Morten also teaches microeconomics or the economics of everyday life and activities. Here, too, he has seen remarkable change — from a pitch-dark city when he first arrived in doing other work in Latvia to a city centre lit largely by the light from shop windows. His students today can stroll through the centre of Riga when it is not dug up and observe shops, cafes, restaurants and other public gathering places rather than picking their way through a dark and depressing urban landscape.
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Speaking of students, Morten has seen some changes from 20 years ago, when everyone entering SSE Riga had spent part of their life in the Soviet system, including primary and sometimes high school education. Now that has changed and SSE Riga is not the only option for Latvian and Baltic students who want a high-quality business education. It is also clear that no one can run a business and disregard macroeconomic factors such as wages, inflation, GDP fluctuations and the business cycle.
As he digs into his salmon, I remind Morten that he has, yet again, expressed some cautions about the Latvian economy in his blog and public statements, almost ten years after the crash at the end of There is no credit boom as there was at the time.
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