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It's Time for a New Economic Strategy in Turkey | Cato Institute

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It's Time for a New Economic Strategy in Turkey | Cato Institute

Since President Tayyip Erdogan has been at the helm, the Turkish lira has tumbled. Today, it collapsed. At one point, it was down as much as 18.5% against the U.S. dollar. The chart below traces the ugly course the lira has taken against the greenback under Erdogan's tutelage. With the collapse of the lira, Turkey's inflation has surged. The most important price in an economy is the exchange rate between the l...

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