Friday, 10 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Greedflation in Turkey? How about greedspending?
Economy

Greedflation in Turkey? How about greedspending?

Last updated: January 18, 2025 7:38 pm
Share
Greedflation in Turkey? How about greedspending?
SHARE

It has come to light that the concept of “greedflation” is not just a misconception in the United States; it also exists in many other countries, including Turkey. KürÅŸad Görgen, a blogger focusing on Turkish monetary policy issues from a market monetarist perspective, discussed some unconventional views in a post last year.

Following the 2023 elections, Turkey moved away from its NeoFisherian interest rate policy, famously formalized by ErdoÄŸan as “interest is the cause, inflation is the result,” and adopted a more conventional approach with a new Central Bank head (who was recently dismissed). As of February 2024, Turkey’s interest rate stands at 45%, and inflation rose to 64.8% in December. Additionally, the Turkish lira hit a new record low against the US dollar in early January, trading at over 30.

Mahfi Egilmez, a popular left-of-center economist in Turkey, introduced the concepts of greedflation and shrinkflation, asserting that there is a “greedflation problem” in Turkey. Görgen effectively explained the fallacy of greedflation and shared a graph depicting Turkish nominal GDP growth rates.

To counter the notion of greedflation, an indirect approach can be used. Instead of attributing inflation to greed directly, one can question the role of greed in nominal GDP (NGDP) growth. For instance, the 110% increase in Turkish NGDP in 2022 raises questions about greed’s influence on factors like wage growth and consumer spending. It becomes evident that greed alone cannot explain such significant growth in NGDP.

Tunc Satiroglu highlighted a 245% surge in the money supply since the Central Bank of the Republic of Turkey (CBRT) initiated interest rate cuts in 2021. This factor, along with high NGDP growth rates, points towards an inevitable rise in inflation.

See also  Sony Pictures Extends beIN Media Deal for MENA, Turkey Content Rights

In conclusion, it is clear that greed is not the sole cause of rapid NGDP growth, which subsequently leads to high inflation. By addressing alternative explanations such as monetary policy decisions and money supply increases, a more comprehensive understanding of inflation dynamics can be achieved.

The discussion around greedflation in economics reveals the need to move beyond outdated perspectives and embrace more nuanced analyses. Just as astronomers debunked the notion of a flat Earth centuries ago, economists must challenge and refine their theories to navigate the complexities of modern economic systems.

TAGGED:GreedflationgreedspendingTurkey
Share This Article
Twitter Email Copy Link Print
Previous Article NYC straphangers hug the walls inside subway stations in wake of spiraling transit crime NYC straphangers hug the walls inside subway stations in wake of spiraling transit crime
Next Article Cameron Diaz Acting Return Alongside Jamie Foxx Was ‘Unusual’ Cameron Diaz Acting Return Alongside Jamie Foxx Was ‘Unusual’
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Trespasser with loaded rifle busted, 2 slashed – including man fighting with teen over seat – in NYC subway mayhem: cops

Subway chaos erupted on Tuesday with multiple incidents of violence and criminal activity reported. Two…

November 6, 2024

MGK Says Birth of Baby With Megan Fox Will Be ‘Bittersweet’

Machine Gun Kelly Mourns the Loss of Friend Luke ‘The Dingo’ Trembath in Heartfelt Tribute…

March 8, 2025

CSK Predicted Playing 11 vs SRH for Match 43 of IPL 2025 ft. Ayush Mhatre and Matheesha Pathirana

The upcoming clash between the Chennai Super Kings (CSK) and the SunRisers Hyderabad (SRH) in…

April 25, 2025

NVIDIA Leads American-Made Chips Boom – The White House

In a groundbreaking move, semiconductor titan NVIDIA has declared that it will produce its AI…

April 14, 2025

Dems set to ‘throw a punch’: Top takeaways from the DNC election

Ken Martin was elected as the new chair of the Democratic National Committee, despite facing…

February 1, 2025

You Might Also Like

When Godzilla Breaks Windows
Economy

When Godzilla Breaks Windows

October 10, 2025
Peter Schiff Describes Bitcoin’s Jump Over 6,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’
Economy

Peter Schiff Describes Bitcoin’s Jump Over $126,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’

October 10, 2025
Veteran analyst drops sharp take on GTA 6 hype
Economy

Veteran analyst drops sharp take on GTA 6 hype

October 10, 2025
Nvidia’s Jensen Huang Says AI Demand Is Up ‘Substantially’ This Year, and Still Growing
Economy

Nvidia’s Jensen Huang Says AI Demand Is Up ‘Substantially’ This Year, and Still Growing

October 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?