Re:Turkey’s inflation hits 83% as Erdogan vows to keep cutti...
by Tuna-Fish on Monday October 03, 2022 @09:28AM
(#33067222)
> According to Erdogan, it is not about economics.
This is not accurate. He literally believes in economic theory that holds that interest rates cause inflation. The root of this theory is Islamic belief, but it's not that he believes that inflation is a necessary evil to stick to his principles, he believes that increasing interest rates would increase inflation.
He has been very open about this belief for a very long time. The short slogan he's used is, roughly translated, "interest is the cause, inflation is the result".
This is not accurate. He literally believes in economic theory that holds that interest rates cause inflation. The root of this theory is Islamic belief, but it's not that he believes that inflation is a necessary evil to stick to his principles, he believes that increasing interest rates would increase inflation.
He has been very open about this belief for a very long time. The short slogan he's used is, roughly translated, "interest is the cause, inflation is the result".
For example, see: https://m.bianet.org/english/economy/254059-erdogan-insists-...