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> In the last few years we saw more 'interesting' economic ideas from Erdogan, like that high interest rates cause inflation Basically a bailout for AKP aligne
by alephnerd 2y ago
> In the last few years we saw more 'interesting' economic ideas from Erdogan, like that high interest rates cause inflation
Basically a bailout for AKP aligned construction oligarchs like MAPA Group. Turkiye did the same thing in the 2000s that China did in the 2010s with real estate construction.
> Turkey seemed to be genuinely making progress, especially in terms of economic policy and outcomes. That's when he was still making fairly orthodox reforms more or less along the lines required by the EU for aspiring new members. (Yes, neoliberal reforms work!)
Yep, but moreso IMF, because Erdogan 1.0 still had to follow IMF terms and reforms from the 2001 bailout.
- eru 2y agoYes, IMF rules and EU neoliberal orthodoxy actually work. Have a look at the development of Greek unemployment numbers over the last decade or so. It has been a steady downward march, with Covid merely a minor blip. (Having said that, unemployment is still at something like 10%. That's bad, but far from 'basket case' territory.)
- ashoeafoot 2y agobecause thr youth left in droves? Empty house == good statistics