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Tag Archives: Inflation & Deflation

Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment-II

By Hasan Cömert & T. Sabri ÖncüThis article first appeared in the Economic & Political Weekly on 18 March 2023.This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing on...

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Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment-II

By Hasan Cömert & T. Sabri Öncü This article first appeared in the Economic & Political Weekly on 18 March 2023. This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing...

Read More »

Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment-II

By Hasan Cömert & T. Sabri ÖncüThis article first appeared in the Economic & Political Weekly on 18 March 2023.This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing on...

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Settling the public sector pay disputes now – modest cost, big benefits

Another week goes by.  Hundreds of thousands of workers, mainly public sector, on strike last week, and again this week. Pay deals way below inflation. Zero movement from government.  Continuing disruption and decay. Why can’t a settlement be reached?Just before Christmas, Prime Minister Sunak told us“I want to make sure that we reduce inflation and part of that is being responsible in setting public sector pay..”On 1st February, Mr Sunak’s Official Spokesman said“We want to have further...

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Settling the public sector pay disputes now – modest cost, big benefits

Another week goes by.  Hundreds of thousands of workers, mainly public sector, on strike last week, and again this week. Pay deals way below inflation. Zero movement from government.  Continuing disruption and decay. Why can’t a settlement be reached? Just before Christmas, Prime Minister Sunak told us “I want to make sure that we reduce inflation and part of that is being responsible in setting public sector pay..” On 1st February, Mr Sunak’s Official Spokesman said “We want to have...

Read More »

Settling the public sector pay disputes now – modest cost, big benefits

Another week goes by.  Hundreds of thousands of workers, mainly public sector, on strike last week, and again this week. Pay deals way below inflation. Zero movement from government.  Continuing disruption and decay. Why can’t a settlement be reached?Just before Christmas, Prime Minister Sunak told us“I want to make sure that we reduce inflation and part of that is being responsible in setting public sector pay..”On 1st February, Mr Sunak’s Official Spokesman said“We want to have further...

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Central bankers, inflation “cousins” & the real threat to the global economy

 Kaye Wiggins in the Financial Times explains that private equity groups, including Blackrock, deliberately inflate the value of their own assets – by buying and then selling said assets to themselves. She shows that the buyout business resembles a pyramid scheme with “circular” deals sold between and within private ownership at high valuations – fuelling asset price inflation.“Windscreen repair and replacement company Belron, which operates internationally under brands including Autoglass...

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Central bankers, inflation “cousins” & the real threat to the global economy

 Kaye Wiggins in the Financial Times explains that private equity groups, including Blackrock, deliberately inflate the value of their own assets – by buying and then selling said assets to themselves. She shows that the buyout business resembles a pyramid scheme with “circular” deals sold between and within private ownership at high valuations – fuelling asset price inflation. “Windscreen repair and replacement company Belron, which operates internationally under brands including Autoglass...

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Central bankers, inflation “cousins” & the real threat to the global economy

 Kaye Wiggins in the Financial Times explains that private equity groups, including Blackrock, deliberately inflate the value of their own assets – by buying and then selling said assets to themselves. She shows that the buyout business resembles a pyramid scheme with “circular” deals sold between and within private ownership at high valuations – fuelling asset price inflation.“Windscreen repair and replacement company Belron, which operates internationally under brands including Autoglass...

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The UK’s public spending led recovery – before the cost-of-living deluge strikes

In this article I look mainly at the UK’s GDP position. While the ONS first estimate for Q1 2022 shows that it is now 0.6% higher than the pre-pandemic peak in Q3 of 2019, this is entirely down to increased government consumption and investment, mainly health-related. But for this real-terms increase, the economy (measured in GDP) would be some 2% smaller now, even before the cost-of-living crisis hits us fully, and before government and Bank of England tighten fiscal and monetary policy...

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