Economist Podcasts You bet your dollar-bottomed: Erdogan’s next gambit
Dec 28, 2021
Join Turkish correspondent Piotr Zalewski and Tom Rowley from 1843 magazine as they break down President Erdogan's bid to stabilize Turkey's plummeting lira. They discuss the implications of backing deposits with dollars and the taxpayer's role in this gamble. The conversation also dives into the Mass Observation Project, revealing intriguing insights about societal reflections over 40 years. Additionally, they explore Saudi Arabia's ambitious tilt toward the film industry, facing cultural hurdles while uncovering deeper societal narratives.
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Erdogan's Lira Gambit
- Erdogan's plan compensates lira deposit holders if depreciation exceeds interest rates.
- This shifts the burden from depositors to taxpayers, risking public finances.
Diaper Economics
- Erdogan claims a weak lira boosts exports and growth.
- A Turkish chef, anticipating price increases, stocked up on a thousand diapers.
Everyday Sociology
- The Mass Observation Project at Sussex University collects everyday accounts from ordinary people.
- This 'guerrilla sociology' reveals shifts in social attitudes over time.