Tesco
Turkey, you were doing so well!
Article

Turkey, you were doing so well!

An economic success story runs off the rails.

Noah Smith
Noah Smith, 2022
Read the article

Read or listen offline

  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×

Editorial Rating

8

Qualities

  • Analytical
  • Overview
  • Background

Recommendation

A manufacturing miracle with a wealthy European customer base, Turkey has markedly improved the living standards of its people since 2001. Yet populism and policy blunders are marring its economic success. In this incisive analysis, economist Noah Smith reveals how excessive borrowing for high-risk, low-yielding political projects, along with the nativist leanings of the Erdoğan government, are undermining the country’s economy. Smith outlines the potential remedies Turkey could employ before it’s too late.

Take-Aways

  • Turkey’s economy experienced a sudden and drastic turn for the better at the start of the 21st century.
  • Three major weaknesses endanger Turkey’s continued economic growth.
  • Turkey can rescue itself from its current morass.

About the Author

Noah Smith writes “Noahpinion,” a blog about economic events.

Comment on this summary or 开始讨论