This article begins with an observation of a contemporary and yet reoccurring political dilemma that small nation-states face with respect to larger states in being either inside or outside of supranational political entities regarding political and economic asymmetries. Employing an intellectual history approach, the article explores this dilemma with reference to the Georgian nation in late-nineteenth century Tsarist Russia and the early twentieth century, when that territory briefly became a nation-state: It explores this through the language of political economy articulated in the thoughts and actions of two founding Georgian national intellectual and political figures, the statesman Niko Nikoladze and Noe Zhordania, who was one of the first prime ministers. It argues that conceiving of the nation(state) primarily in economic terms, as opposed to exclusively nationalist ones, was more conducive to the option of remaining inside a supranational space.