Can we reduce consumption without making everyone poorer?

Years of high rates in Turkey led to foreign-denominated private debt and speculative investment. Lowering rates will hurt but is necessary.

Why does anyone want to save in another country's currency? The answer, though simple, may surprise you.

What inflation is and where it comes from.

An in-depth response to a bad-faith critique.

The free market will never fulfill everyone's material needs or even give everyone what they want.

Theoretically and empirically, the price level is far more complicated than a simple equation might suggest.

The inflation-adjusted fiscal deficit shrank, meaning monetary policy did not act by itself.