Erdogan's Economic Failure of Orthodoxy

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Kiyotra Zalabsky: The new appointments could represent sort of a new page in Turkish monetary policy. But for all of that to be true, Mr. Shymshik and Ms. Eircon will need to work independently of regip-type Erdogan, the newly re-elected president. He had over the past few years eroded the independence of the central bank so much so that the central bank had become effectively an arm of his government on his watch.

Conflict in Ukraine has cut short the “peace dividend” the world was reaping. We count the economic costs of a widespread return to a war footing. President Recep Tayyip Erdogan’s appointment of two economic realists should, at last, overturn Turkey’s upside-down monetary policy—if they are free to act. And why so many whales are washing up dead on America’s East Coast.

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