Turkey asks shops to cut prices in radical approach to inflation
“Turkey’s finance minister has set out a new approach to tackling the country’s soaring inflation — urging the nation’s shops and businesses to give consumers discounts to keep prices in check.”
USAGOLD note: Such notions defy common sense and even a rudimentary understanding of economics. In reading this report, I was reminded of the Gerald Ford administration’s Whip Inflation Now campaign launched in the mid-1970s. The Ford administration sincerely believed it would help stop inflation in its tracks. Instead the campaign became a frequent target for late night comedy shows.