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How Pseudoscience Is Wrecking the Economy In Turkey
Mustafa Akyol
Cato December 6, 2021
(AP Photo/Mary Altaffer, Pool)
One of the most startling stories in the world these days is what the Wall Street Journal recently called “
The Erdogan Lira Crisis
.” The crisis is that Turkey’s national currency has been plummeting at an astonishing rate: in 2012, 1 U.S. dollar equaled 1.8 Turkish liras. Today,
after an accelerating downward spiral of the Turkish currency
, 1 dollar equals 13.7 liras.
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