This is true, Erdogan decided to take control over the money supply, which is generally the job of the central bank which is an independent branch of the government. Countries with independent central banks usually have stable currencies.
>On the other hand many economists belive Nobel Prize winner Milton Friedman's assertion that "Inflation is always and everywhere a monetary phenomenon" (more economists disagree with this probably, my point being that these are not settled matters)
What Turkey needs is reforms and financial aid for the agriculture sector not control over the money supply because "inflations" aren't caused by interest rates, they are caused by shortages in the relevant sector. If there is enough food for everyone, then food inflation will go away and it could go away despite the money printing.
Under EIP 1559, each block will burn ETH — the amount of ETH burned increases as blocks fill up. The ETH burned can offset & exceed the ETH block issuance.
Over time, if ETH block space is full, the amount of ETH will decrease.
There is no equilibrium at either everyone being a spender or everyone being a hoarder, thus the self-balancing nature.
And I don't think it can be. Economics is ultimately the study of people's behaviour, and that is subject to irrationality, emotions, culture, and times.
Many countries who manage their money supply have wildly unstable currencies. Turkey for example.
On the other hand many economists belive Nobel Prize winner Milton Friedman's assertion that "Inflation is always and everywhere a monetary phenomenon" (more economists disagree with this probably, my point being that these are not settled matters)
And we have absolutely zero long term evidence of how currencies with pre determined supplies behave.
So, sure, state your case, you might be right, but don't make it out to be like this is some law of physics.