The Kapali Carsi

  • Dickens and Gatsby on Turkey’s poor and working children

    Like my friend Esther’s father Jamie, I am a Charles Dickens fan because of the novelist’s exquisite use of the English language. I recently realized that I should also read Dickens to understand today’s Turkey. Here is the intro. to my latest Hurriyet Daily News (HDN) column. The title, which summarizes the column well, should dispel any [...]

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  • The tsar and the sultan (queen) meddle with monetary policy

    Governor Erdem Başçı did indeed save the best for last during his briefing on the Central Bank’s first Inflation Report of the year on Jan. 28. At the Q&A session, he said the monetary policy committee (MPC) would cut interest rates at an emergency meeting on Feb. 4 if annual inflation fell more than one percentage point in January. Here is [...]

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  • The deal that may make or break the eurozone

    It is no secret that the top priority of the new Greek government will be to negotiate a reduction in the country’s debt – as well as to broker softer terms on the austerity conditions forced by its creditors. Until as recently as the wee hours of Thursday, I thought that this would be unethical. Here is the [...]

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  • The economics of radical religious terrorism

    The Charlie Hebdo attack has led many to claim that – or at least question why – Islam is associated with terrorism. I would reverse the order of causality the question implies. We must first try to answer why there are so many terrorist organizations linked to radical Islam. The attack led me to read, [...]

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  • QE será, será

    I always dismissed arguments that the eurozone’s time as an economic power was up, pointing out the strengths of the common currency area. But I finally realized that I have been wrong all along. I start my latest Hurriyet Daily News (HDN) column by explaining why the Europeans do not know how to conduct monetary policy:)- I [...]

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  • The Grand Bu-da-peşkeş Hotel

    I had very high expectations from “The Grand Budapest Hotel”, the latest Wes Anderson movie which was nominated for nine Oscars on Jan. 15, four days after winning the best musical or comedy at the Golden Globes on Jan. 11. Not only because I am big Anderson fan, but also because the movie is inspired [...]

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  • Summary of Turkey in 2014: !Redrum

    I use the first two columns of the year to summarize the past year’s economic agenda and share my predictions for the new year. The first one is much easier, as I have more than 100 of my columns to guide me. As I explain in its introduction, I refer to my columns from last [...]

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  • Economics of losing weight and other New Year’s Resolutions

    Now that I have my laptop, OK not “my” laptop but at least “a” laptop, I can post Monday’s (Dec. 29)  Hurriyet Daily News column as well. New Year is the time of, obviously, New Year’s Resolutions, and as your friendly neighbourhood economist, I wanted to share with you some advice from the dismal science on [...]

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  • The economics of Christmas gifts

    I love Christmas. I really do. I recently realized that I have not celebrated Christmas since moving back to Turkey from the United States in 2005, and I decided, on a whim, to spend Christmas in London, where I am writing this column on Christmas Day. But there is one Christmas tradition that seems awfully wrong [...]

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  • Erdoğan’s choice: Reform or religion?

    After revealing the first nine on Nov. 6, Prime Minister Ahmet Davutoğlu unveiled seven more transformation programs of the government’s ambitious reform strategy at a press conference on Dec. 18. In my latest Hurriyet Daily News (HDN) column, I explain why it is a complete waste of time to discuss the second part of the [...]

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Richard Wood Richard Wood

Richard has published papers on wages policy, the taxation of financial arrangements and macroeconomic issues in Pacific island countries. Views expressed in these articles are his own and may not be shared by his employing agency. He is the author of How to Solve the European Economic Crisis: Challenging orthodoxy and creating new policy paradigms