Which is the keystone?
Güven Sak, PhD
09 June 2009
In the past, news about the Amazon region was seen in dailies. The news that always reflected the usual Western arrogance read "There is a new tribe in the Amazon which is no civilized at all and which does not know what goes on in the external world". Have you ever wondered how such a life would be? But there is no need to wonder, we all have already been living such a life. Indeed, this is valid at least since 2006. What would an alien observer group evaluating the life on out blue planet would think when it visited Turkey after wondering around a little bit? They would need to carry out comprehensive studies on our social organization. Don't you think that we are gradually turning into a living form "who does not have time to service as the time is spent to win the elections to service
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Let’s see how the dance will be
Güven Sak, PhD
06 June 2009
Those visiting the United States of America (USA) nowadays see a uniform sign next to roads being built, at the most prominent point of the bridges that are repaired and at the location of any activity carried out with public funds. The sign, with big font sizes, says "funded by the funds transferred via the Recovery and Reinvestment Act introduced in the context of the program to tackle the crisis". Why do they do so? First of all, to thrust under the eyes of the public masses that something is done. Second, to enable everyone to regain their self-confidence and excitement. Third, of course to support domestic demand and limit the damage caused by the crisis with fiscal expansion. "If there is crisis, there is remedy" campaign launched in Turkey must be evaluated exactly within this frame
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So, how do Turkish companies perform?
Güven Sak, PhD
04 June 2009
World Bank made a statement about Latin America on June 2nd. The statement reads: Latin America is performing well compared to previous crises. The region is foreseen to contract by 0.9 percent in 2009. Economic bounce back and recovery in Latin America will follow those in the developed countries. Unlike in the previous crisis, Latin America will easily follow the developed countries in the occurrence of the positive trend. This is the case, because Latin America, before the emergence of the crisis, saved when things were on track, and then started to spend the amounts saved in the right direction under the scope of economic support packages. This is what we get from the statement of the World Bank. Now, let us assess the situation for Turkey along with this statement and go on further wi
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Which factors must be considered when thinking on the year 2010?
Güven Sak, PhD
02 June 2009
Don't you also think that the shallowness in the current economic policy discussion is highly annoying? As you see, we are not discussing what type of measures must be implemented. We are in June 2009, and it must be annoying for everyone with a good head on their shoulders to see that the economic policy discussion in Turkey is stuck within the "Let us agree with the IMF" and "No way! First, they have to accept our terms" debate. There is no sense in Honorable Prime Minister's saying again and again "We have to wait and see about the IMF issue. They first have to accept our terms". The only feeling this statement evokes is the urge to ask the question "Which terms are you talking about?" And as you might see, that question does not have an answer either. Do you believe that negotiations a
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Beloved economists
Güven Sak, PhD
30 May 2009
A while ago we maintained "No one likes economists" but we skipped the topic after two commentaries without concluding it. Today let us fulfill this duty. Let us begin with Andres Velasco; a successful economists highly popular in his hometown. But do not worry, if it were last year; he would have pushed for the top in the list of most hated economists. Then, what does this tell? This at most tells that he talks a lot on issues people do not know much about. This is the case not only in Chile, but also in Turkey.
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“There is crisis; there also is remedy”
Güven Sak, PhD
26 May 2009
Producing Turkey Platform launched a communication campaign with the title "There is crisis, there also is remedy". Producing Turkey Platform is led by Union of Chambers and Commodity Exchanges (TOBB). Besides TOBB, many trade unions including Hak-İş, Türk-İş, TESK, TİSK, Kamu-Sen as well as Turkish Industrialists' and Businessmen's Association (TUSIAD), Independent Industrialists' and Businessmen's Association (MUSIAD) and Assembly of Turkish Exporters (TİM) are involved in the platform. TOBB President Rifat Hisarcıklıoğlu specifically emphasized that anyone willing to join the platform can do so. Saying "There is crisis; there is remedy", platform made a statement putting special emphasis on the importance of the domestic market. Targeting consumers, it said "Don't lock yourselves in the
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How might 2010 be?
Güven Sak, PhD
23 May 2009
Since May is about to end, it is wise to stop thinking about 2009 and start to focus on 2010. Have you started to think about how 2010 might be? Today let us start doing it together. When you start thinking, you begin to evaluate better what goes around.
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Erdoğan must ask Lula the secret of his success
Güven Sak, PhD
21 May 2009
Luis Inacio Lula da Silva, popular President of Brazil, is visits Turkey today. He is the leader with biggest public support after Obama. As opinion surveys carried out in Brazil reveal, around 80 percent of the public supports him. But, his performance is in fact better than that of the President of United States of America. Obama has recently taken over the office. Lula on the other hand took over the administration in January 2003 following the elections carried out at the end of 2002. Then in 2006, he succeeded to be elected as the president for the second time. Do these dates sound familiar? It is important that 80 percent of the public still supports him at the end of the first half of his second term in power. In this context, it might not be logical to compare Lula with Obama. Pres
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IMF is definitely useful
Güven Sak, PhD
19 May 2009
I guess talking about the IMF will be subject to prior authorization from now on. What we watched on television last week showed us that to do this it is necessary to take prior permission from Honorable Public Prosecutor principally. In this context, I believe that the second prior permission must be taken from economist Asaf Savaş Akat. Last week on television, Mr. Akat was acting like Deputy Public Prosecutor. So, we must be cautious, just in case. Honorable Public Prosecutor and Honorable Economist; in your sanction, I would like to call back the "Why is IMF necessary over the forthcoming period?" issue today. Yes, it is right; I, your humble servant, think it is a mistake that no IMF agreement has been signed yet. On top of it, I also believe that an agreement has still not been signe
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What is the problem of European banks?
Güven Sak, PhD
16 May 2009
I know that it is weekend. But I do not think there is a rule saying "weekend commentaries should be entertaining, not serious." Can weekends be time of mediation or an opportunity to leave behind hullabaloo of life and take a top view on the environment? Why not? This is our intention for today.
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