Economist Podcasts Can’t take a hike: more economic turmoil in Turkey
Mar 24, 2021
Piotr Zalewski, The Economist's Turkey correspondent, delivers a deep dive into Turkey's economic chaos, sparked by President Erdogan's dismissal of the central bank governor. He discusses the dramatic plunge of the Turkish lira and the clash of traditional economics with Erdogan's unorthodox views. The conversation also veers into the unregulated sperm donation industry in America, touching on the humorous and serious implications of anonymity and health. Lastly, it explores the evolving portrayal of women in contemporary opera, showcasing their struggles and artistic breakthroughs.
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Erdogan's Economic Policy
- Turkish President Erdogan fired the central bank head for raising interest rates.
- Erdogan opposes high rates, contradicting conventional economics.
Central Bank Turnover
- Naci Ağbal, the recently fired central bank governor, is the third person in this role in two years.
- He had only served four months and was implementing effective strategies.
Unorthodox Economics
- Erdogan believes, contrary to economic consensus, that high interest rates cause inflation.
- He prefers low rates to stimulate borrowing and economic activity.