Except the fact that tightening the belt will squeeze more out of the bottom half of the society. Wealth inequality is growing even faster under Simsek and soon the cracks will be visible. Turkey's problem was not a monetary policy issue, Erdogan's unorthodox policy or Simsek's orthodox policy won't fix anything as the policy is irrelevant to the average person it is the underlying philosophy that matters. As long as rich get richer, the poor will always get poorer. Turkey is a 3rd world country they cannot siphon value out of colonies to feed the rich, it has to come from the poor INSIDE the country. This can happen through both low interest rates or high but the end result is the same, money moves upwards and gets consolidated.
Except the fact that tightening the belt will squeeze more out of the bottom half of the society. Wealth inequality is growing even faster under Simsek and soon the cracks will be visible. Turkey's problem was not a monetary policy issue, Erdogan's unorthodox policy or Simsek's orthodox policy won't fix anything as the policy is irrelevant to the average person it is the underlying philosophy that matters. As long as rich get richer, the poor will always get poorer. Turkey is a 3rd world country they cannot siphon value out of colonies to feed the rich, it has to come from the poor INSIDE the country. This can happen through both low interest rates or high but the end result is the same, money moves upwards and gets consolidated.
Totally agree with you 👏🏻