Great NRO article by Paul Krugman ........ I don't think it is unusual for a guy like Krugman to talk about capital controls as a means, among others, for Turkey to dampen the current fiscal crisis. That sort of fiscal policy has been around for a long time with varying degrees of stigma or credit as circumstances historically dictated. Probably very appropriate to talk about it in the context of Turkey.
Will Erdogan adapt policies like that? Maybe. One of Krugman's implied points is that Erdogan would appear to be able to do this without appearing to kowtow to the US.
Hack, I know you have spent periods of extended time in Turkey. My time there has been limited to multiple short stays but I've loved that time and that spent with Turks themselves. It's been hard for me to watch that country slide into the political and economic morass it has become under Erdogan. I was cheering for the success of the coup when it went down. Today, it appears much less likely that another uprising to get rid of Erdogan could happen. But he is in deep shit politically, glad to see it, hope he continues down a defiant, lying road similar to Maduro in Venezuela but his rule is ended by popular uprising before it gets to the point Venezuela has reached.
Will Erdogan adapt policies like that? Maybe. One of Krugman's implied points is that Erdogan would appear to be able to do this without appearing to kowtow to the US.
Hack, I know you have spent periods of extended time in Turkey. My time there has been limited to multiple short stays but I've loved that time and that spent with Turks themselves. It's been hard for me to watch that country slide into the political and economic morass it has become under Erdogan. I was cheering for the success of the coup when it went down. Today, it appears much less likely that another uprising to get rid of Erdogan could happen. But he is in deep shit politically, glad to see it, hope he continues down a defiant, lying road similar to Maduro in Venezuela but his rule is ended by popular uprising before it gets to the point Venezuela has reached.
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