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    Turkey needs a new story
    Güven Sak, PhD 19 May 2018
    The lira is in free fall, and the entire Turkish economy is reeling from its effects, suffering in silence, praying for deliverance. In his three-day state visit to UK this week, President Erdoğan gave lengthy interviews to financial outlets and met major investors for dinner, presumably to stop his currency’s fall. What happened? The lira lost another 5 percent against the dollar, declining from 23 cents a lira to 22 cents. It seems that we don’t have a good story to tell the world any more, and the world votes with its cash. [More]
    Nation States and MENA
    Güven Sak, PhD 12 May 2018
    Remember what Robert Reich, President Clinton’s labor secretary, said about the Republican-led government shutdown in 1996? “You know, much of what the federal government does in the United States... is to provide what is almost a large insurance policy for people. And it’s only when you get into trouble...that you realize that the insurance policy has effectively been cancelled. And that’s what’s happened now” he said. I think that this is a good way of thinking about the modern nation state. It’s not only about building roads and schools and military bases but also a regulatory edifice to operate the country, oversee markets, and create an environment for your citizens to freely interact with each other. That is what the Middle East urgently needs. [More]
    Ready for cohabitation a la Turca?
    Güven Sak, PhD 05 May 2018
    When asked about the situation in Turkey, I have recently been quoting Austrian-British philosopher Ludwig Wittgenstein: “You cannot draw the seed up out of the earth. All you can do is give it warmth and moisture and light; then it must grow.” Countries change by interaction, not by design. That is what is happening in Turkey. The country is changing, and if you take the long view you’ll see it’s changing for the better. Let me tell you why I am a cautious optimist regarding the upcoming elections in Turkey.Turkey is due to hold snap presidential and parliamentary elections in less than two months. Many constitutional amendments passed in the April 2017 referendum will go into effect after this election. The world is struggling to make sense of things: Where is Turkey going? Is this the e [More]