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		<title>Challenges and Solutions to Global Food Security in Five Books</title>
		<link>https://politicstoday.org/challenges-solutions-global-food-security-books-2/</link>
		
		<dc:creator><![CDATA[Politics Today]]></dc:creator>
		<pubDate>Thu, 07 Sep 2023 08:37:55 +0000</pubDate>
				<category><![CDATA[World]]></category>
		<category><![CDATA[Book Bundle]]></category>
		<category><![CDATA[Climate Change]]></category>
		<category><![CDATA[Trade War]]></category>
		<category><![CDATA[Security]]></category>
		<category><![CDATA[Agriculture]]></category>
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					<description><![CDATA[<div><img width="300" height="200" src="https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee-300x200.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" fetchpriority="high" srcset="https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee-300x200.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee-768x512.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee.jpg 800w" sizes="(max-width: 300px) 100vw, 300px" /></div>
<p>From the intricacies of international trade policies to the sustainability of food systems, the impacts of geopolitical conflicts to the strategic place of food, these books provide a comprehensive understanding of the challenges and opportunities in the realm of global food security.</p>
<p>The post <a href="https://politicstoday.org/challenges-solutions-global-food-security-books-2/">Challenges and Solutions to Global Food Security in Five Books</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div><img width="300" height="200" src="https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee-300x200.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee-300x200.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee-768x512.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/foodsecuritybundlee.jpg 800w" sizes="(max-width: 300px) 100vw, 300px" /></div><div class="wpb-content-wrapper"><div class="vc_row wpb_row vc_row-fluid"><div class="wpb_column vc_column_container vc_col-sm-8 vc_col-sm-offset-2"><div class="vc_column-inner"><div class="wpb_wrapper">    <div class="c-space  c-space--1 c-space--custom"></div>
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			<p><span class="r-es-drop-cap">I</span></p>
<p>n an era marked by unprecedented global challenges, few issues resonate as profoundly as the quest for food security. The Russian invasion of Ukraine and the grain shortage that followed showcased the grave vulnerability of existing systems. The imperative of ensuring that everyone, everywhere has access to safe, sufficient, and nutritious food looms large on the global stage. This month’s book bundle presents a curated selection of books that delve into food security, examining it from multiple angles, and offering insights, strategies, and solutions.</p>
<p>From the intricacies of international trade policies to the sustainability of food systems, and from the impacts of geopolitical conflicts to the strategic place of food, these books provide a comprehensive understanding of the challenges and opportunities in the realm of global food security.</p>
<p>Whether you are a policymaker, researcher, student, or simply a concerned global citizen, this collection provides valuable resources for understanding, navigating, and contributing to the discourse on global food security.</p>

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			<p>Read: <a href="https://politicstoday.org/as-global-food-crisis-looms-governments-may-be-caught-unprepared/">As Global Food Crisis Looms, Governments May Be Caught Unprepared</a></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-4cc7c8bbda0a6d3a75690b6202a51ec8 alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/08/61isptuhwel-sx598-bo1204203200-380x583.jpg" srcset="https://politicstoday.org/wp-content/uploads/2023/08/61isptuhwel-sx598-bo1204203200-380x583.jpg 380w, https://politicstoday.org/wp-content/uploads/2023/08/61isptuhwel-sx598-bo1204203200.jpg 521w" sizes="(max-width: 380px) 100vw, 380px" width="380" height="583"  data-dt-location="https://politicstoday.org/?attachment_id=19687" style="--ratio: 380 / 583;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">Food Security: Availibility, Income, and Productivity</span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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			<p><em>Food Security: Availability, Income and Productivity</em> is a pertinent book that explores the pressing issue of global food security as our world population continues to grow. The author focuses on three key conditions necessary to achieve food security: food availability, adequate incomes, and increased agricultural productivity.</p>
<p>The book draws insights from history and contemporary contexts to thoroughly examine these conditions. It takes a close look at the obstacles preventing consistent food availability and discusses how to overcome these challenges. It also delves into the importance of ensuring sufficient incomes, highlighting programs like food stamps and food banks. Furthermore, the book provides valuable insights into the factors driving enhanced agricultural productivity.</p>
<p><em>Food Security</em> caters to a broad audience, including agricultural experts, policymakers, and NGOs working in food aid. It&#8217;s also a valuable resource for students studying agriculture and public policy. The book not only informs but also encourages critical thinking about the complex task of feeding a projected nine billion people by 2050.</p>
<p>In a world where food scarcity is becoming increasingly worrisome, this book offers essential insights into the intricate web of food security. It provides a well-reasoned analysis that will contribute to ongoing discussions and efforts aimed at ensuring a sustainable food future for everyone.</p>
<p><strong>William A. Kerr, Food Security: Availability, Income and Productivity (Edward Elgar Publishing, 2023) ISBN: 978 1 03531 270 2, 234 pages</strong></p>

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			<p>Read: <a href="https://politicstoday.org/a-new-cold-war-erupts-in-the-shadow-of-food-crises/">A New Cold War Erupts in the Shadow of Food Crises</a></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-90a853e90628ee78a2541fa72f949ef9 alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/08/pid-35559-380x573.jpg" srcset="https://politicstoday.org/wp-content/uploads/2023/08/pid-35559-380x573.jpg 380w, https://politicstoday.org/wp-content/uploads/2023/08/pid-35559.jpg 530w" sizes="(max-width: 380px) 100vw, 380px" width="380" height="573"  data-dt-location="https://politicstoday.org/?attachment_id=19688" style="--ratio: 380 / 573;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">Shadow Negotiators: How UN Organizations Shape the Rules of World Trade for Food Security</span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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			<p><em>Shadow Negotiators:</em> <em>How UN Organizations Shape the Rules of World Trade for Food Security</em> by Matias E. Margulis is a groundbreaking exploration of the influence exerted by United Nations (UN) organizations within the World Trade Organization (WTO) despite their absence from the formal negotiation table. Margulis introduces the concept of &#8220;shadow negotiators,&#8221; illustrating how UN bodies strategically engage in political actions to shape multilateral trade negotiations.</p>
<p>The book&#8217;s primary focus is on the contentious issue of agricultural trade liberalization. It provides a detailed analysis of interventions by four UN organizations: the Food and Agriculture Organization (FAO), the World Food Programme (WFP), the Office of the High Commissioner for Human Rights (OHCHR), and the Special Rapporteur on the Right to Food (SRRTF).</p>
<p>Margulis unveils the innovative strategies these UN entities employ to influence global trade regulations. Importantly, he emphasizes that their motivation isn&#8217;t rooted in competition with the WTO or ideological opposition to trade liberalization. Instead, it stems from their concern that certain trade rules could negatively impact global food security, running counter to their core mission of addressing world hunger and safeguarding the right to food.</p>
<p><em>Shadow Negotiators</em> is a meticulously researched work that offers fresh insights into the often-unseen dynamics of international trade. It&#8217;s essential reading for those interested in the intersection of trade policy and global welfare, making a valuable contribution to the field of international relations and trade studies.</p>
<p><strong>Matias E. Margulis, Shadow Negotiators: How UN Organizations Shape the Rules of World Trade for Food Security (Stanford University Press, 2023) ISBN: 9781503633520, 292 pages</strong></p>

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			<p>Read: <a href="https://politicstoday.org/food-inflation-global-crisis-and-turkey/">Food Inflation, Global Crisis, and Turkey</a></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-d7e6d0416cf2b1d57c521ff04c27baa4 alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/08/41mswixxuvl-ac-uf10001000-ql80-380x573.jpg" srcset="https://politicstoday.org/wp-content/uploads/2023/08/41mswixxuvl-ac-uf10001000-ql80-380x573.jpg 380w, https://politicstoday.org/wp-content/uploads/2023/08/41mswixxuvl-ac-uf10001000-ql80.jpg 530w" sizes="(max-width: 380px) 100vw, 380px" width="380" height="573"  data-dt-location="https://politicstoday.org/?attachment_id=19689" style="--ratio: 380 / 573;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">Universal Food Security: How to End Hunger While Protecting the Planet</span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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			<p><em>Universal Food Security: How to End Hunger While Protecting the Planet</em> by Glenn Denning explores the path towards a world where hunger and malnutrition are eradicated, and everyone can access healthy and abundant food for a productive life. The book emphasizes the need to transform our food systems, focusing on sustainability and environmental restoration, from production to distribution.</p>
<p>Denning, drawing from his extensive experience in over fifty countries, offers a practical guide to making healthy diets accessible to all while ensuring sustainability. He identifies key priorities, including sustainable agriculture intensification, robust market infrastructure, responsible postharvest practices, promoting healthy eating, and establishing social safety nets. The book underscores the pivotal role of practitioner-leaders in driving this transformation, highlighting the importance of education and development in instigating change.</p>
<p>But beyond the roadmap, Denning reminds us that the engine driving this transformation is practitioner-leadership, underscored by education and development. This book stands as a testament to the potential for meaningful change when individuals and institutions commit to reshaping our world, making universal food security not merely a dream but a tangible and sustainable reality.</p>
<p><strong>Glenn Denning, Universal Food Security: How to End Hunger While Protecting the Planet (Columbia University Press, 2023) ISBN: 9780231197618, 448 pages</strong></p>

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			<p>Read: <a href="https://politicstoday.org/why-we-should-immediately-switch-from-conventional-to-sustainable-agriculture/">Why We Should Immediately Switch from Conventional to Sustainable Agriculture</a></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-c80479f2dc8463448109d8ad2c35b94e alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/08/boook.jpg" srcset="https://politicstoday.org/wp-content/uploads/2023/08/boook.jpg 240w" sizes="(max-width: 240px) 100vw, 240px" width="240" height="398"  data-dt-location="https://politicstoday.org/?attachment_id=19690" style="--ratio: 240 / 398;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">The Russia-Ukraine Conflict and Global Food Security</span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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			<p><em>The Russia-Ukraine Conflict and Global Food</em> <em>Security</em> explores the global food security implications of Russia&#8217;s invasion of Ukraine in February 2022, which occurred during a period of already high food prices due to the COVID-19 pandemic. The book highlights the importance of the Black Sea region for global food production and Russia&#8217;s role in supplying natural gas and fertilizers.</p>
<p>The potential disruption of trade in this region posed a significant threat, with the potential to raise food prices and worsen poverty and hunger in vulnerable countries. The conflict primarily impacted trade in cereals and vegetable oils, fertilizer exports, and energy costs, potentially pushing millions into hunger and poverty.</p>
<p>The International Food Policy Research Institute (IFPRI) responded swiftly by providing information and policy advice. They established a blog series and online resources to disseminate critical information rapidly. This book compiles these blog posts, offering an overview of the crisis&#8217;s progression, international responses, and lessons for ensuring food security in the wake of disruptions.</p>
<p>This book provides essential insights into a rapidly evolving crisis with far-reaching implications for global food security, making it valuable for policymakers and researchers.</p>
<p><strong>Joseph W. Glauber, Ed. and David Laborde Debucquet. Ed., <em>The Russia-Ukraine Conflict and Global Food Security</em> (IFPRI, 2023) ISBN: 9780896294394, 196 pages</strong></p>

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			<p>Read: <a href="https://politicstoday.org/food-security-russia-ukraine-war-caitlin-welsh-interview/">&#8220;The Damage Will Take Time to Repair&#8221;: An Interview with Caitlin Welsh on the Impact of the Russia-Ukraine War on Food Security</a></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-fdc6d56734eaaf9127b442c0cef5adda alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/08/bread-and-autocracy-380x573.jpg" srcset="https://politicstoday.org/wp-content/uploads/2023/08/bread-and-autocracy-380x573.jpg 380w, https://politicstoday.org/wp-content/uploads/2023/08/bread-and-autocracy.jpg 530w" sizes="(max-width: 380px) 100vw, 380px" width="380" height="573"  data-dt-location="https://politicstoday.org/?attachment_id=19691" style="--ratio: 380 / 573;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">Bread and Autocracy: Food, Politics, and Security in Putin's Russia</span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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			<p><em>Bread and Autocracy: Food, Politics, and Security in Putin’s</em> Russia offers a compelling analysis of the pivotal role food has played in Russian politics from the 1917 Revolution to the present under Putin&#8217;s leadership. The authors, Janetta Azarieva, Yitzhak M. Brudny, and Eugene Finkel, argue that Russia&#8217;s transition from a grain importer to a global food exporter was a deliberate, long-term strategy aimed at enhancing national security and regime stability. This focus on food self-sufficiency sets Russia apart from other autocracies, as it prioritizes domestic food production over imports, highlighting its significance in maintaining autocratic rule.</p>
<p>The book&#8217;s relevance is heightened in today&#8217;s world, where food issues are once again at the forefront of global concerns and nations are emphasizing self-reliance. Bread and Autocracy provides a timely and comprehensive exploration of Russia&#8217;s unique approach to food politics, shedding light on its implications for both domestic and international affairs. It is a valuable read for those seeking a deeper understanding of Russia&#8217;s distinctive stance on food and its impact on political power. The book will be available in hardcover on September 1, 2023.</p>
<p><strong>Janetta Azarieva, Yitzhak M. Brudny, and Eugene Finkel<em>, Bread and Autocracy: Food, Politics, and Security in Putin&#8217;s Russia</em> (Oxford University Press, 2023) ISBN: 9780197684368, 525 pages</strong></p>

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	<div class="entry-meta"><span class="category-link"><a href="https://politicstoday.org/category/world/">World</a></span><a class="author vcard" href="https://politicstoday.org/author/politics-today/" title="View all posts by Politics Today" rel="author">By <span class="fn">Politics Today</span></a></div>
	
	
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		<a href="https://politicstoday.org/pacific-summit-backs-concerns-over-china-missile-test-despite-nauru-dissent/" class="post-thumbnail-rollover" ><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2026/09/china-taiwan-760x534.jpg" srcset="https://politicstoday.org/wp-content/uploads/2026/09/china-taiwan-760x534.jpg 760w" style="--ratio: 760 / 534" sizes="(max-width: 760px) 100vw, 760px" alt="" title="China Taiwan" width="760" height="534"  /></a>	</div>
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		<a href="https://politicstoday.org/pacific-summit-backs-concerns-over-china-missile-test-despite-nauru-dissent/" title="Pacific Summit Backs Concerns Over China Missile Test Despite Nauru Dissent" rel="bookmark">Pacific Summit Backs Concerns Over China Missile Test Despite Nauru Dissent</a>
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		<a href="https://politicstoday.org/asia-moves-to-strengthen-oil-and-gas-reserves-after-strait-of-hormuz-crisis/" class="post-thumbnail-rollover" ><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2026/09/oil-hormuz-760x534.jpg" srcset="https://politicstoday.org/wp-content/uploads/2026/09/oil-hormuz-760x534.jpg 760w" style="--ratio: 760 / 534" sizes="(max-width: 760px) 100vw, 760px" alt="" title="Oil Hormuz" width="760" height="534"  /></a>	</div>
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	<div class="entry-meta"><span class="category-link"><a href="https://politicstoday.org/category/energy/">Energy</a></span><a class="author vcard" href="https://politicstoday.org/author/politics-today/" title="View all posts by Politics Today" rel="author">By <span class="fn">Politics Today</span></a></div>
	
	
</div></article></div><div class="visible wf-cell" data-post-id="30627" data-date="2026-09-03T09:59:10+03:00" data-name="US Strike on Wedding in Southern Iran Kills Four, Wounds More Than 60"><article class="post project-odd visible post-30627 type-post status-publish format-standard has-post-thumbnail hentry category-news category-middle-east category-world tag-united-states tag-iran pt_topic-sectarianism pt_topic-terrorism category-1 category-23 category-24 description-off" data-name="US Strike on Wedding in Southern Iran Kills Four, Wounds More Than 60" data-date="2026-09-03T09:59:10+03:00">

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		<a href="https://politicstoday.org/us-strike-on-wedding-in-southern-iran-kills-four-wounds-more-than-60/" class="post-thumbnail-rollover" ><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2026/09/airstrike-in-iran-1-760x534.jpg" srcset="https://politicstoday.org/wp-content/uploads/2026/09/airstrike-in-iran-1-760x534.jpg 760w" style="--ratio: 760 / 534" sizes="(max-width: 760px) 100vw, 760px" alt="" title="Airstrike in Iran" width="760" height="534"  /></a>	</div>
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	<div class="entry-meta"><span class="category-link"><a href="https://politicstoday.org/category/middle-east/">Middle East</a></span><a class="author vcard" href="https://politicstoday.org/author/politics-today/" title="View all posts by Politics Today" rel="author">By <span class="fn">Politics Today</span></a></div>
	
	
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</div><p>The post <a href="https://politicstoday.org/challenges-solutions-global-food-security-books-2/">Challenges and Solutions to Global Food Security in Five Books</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
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		<title>Three Books That Reveal How Global Corruption Makes the World Go Round</title>
		<link>https://politicstoday.org/books-on-global-corruption/</link>
		
		<dc:creator><![CDATA[Politics Today]]></dc:creator>
		<pubDate>Mon, 06 Feb 2023 03:11:52 +0000</pubDate>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[World]]></category>
		<category><![CDATA[Book Bundle]]></category>
		<category><![CDATA[trade]]></category>
		<category><![CDATA[Governance]]></category>
		<category><![CDATA[Global Trade]]></category>
		<category><![CDATA[globalization]]></category>
		<category><![CDATA[Lobbying]]></category>
		<category><![CDATA[Humanitarian Aid]]></category>
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					<description><![CDATA[<div><img width="300" height="200" src="https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption-300x200.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption-300x200.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption-768x512.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption.jpg 800w" sizes="(max-width: 300px) 100vw, 300px" /></div>
<p>Money makes the world go round. What happens when the ones at the very top of the money chain are corrupted?</p>
<p>The post <a href="https://politicstoday.org/books-on-global-corruption/">Three Books That Reveal How Global Corruption Makes the World Go Round</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div><img width="300" height="200" src="https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption-300x200.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption-300x200.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption-768x512.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/bookbundlecorruption.jpg 800w" sizes="(max-width: 300px) 100vw, 300px" /></div><div class="wpb-content-wrapper"><div class="vc_row wpb_row vc_row-fluid"><div class="wpb_column vc_column_container vc_col-sm-8 vc_col-sm-offset-2"><div class="vc_column-inner"><div class="wpb_wrapper">    <div class="c-space  c-space--13 c-space--custom"></div>
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			<p><em>The saying “Money makes the world go round” takes a more powerful meaning in a globalized capitalist economy. But what happens when the ones at the very top of the money chain are corrupted? In this month’s book bundle, we share with you three books that explore the influence of the rich and powerful, discuss how the world really goes round, and expose the staggering cases of how corruption hides itself often in plain sight with its effects rippling into the depth of systems, societies, and the lives of each one of us.</em></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-3ec290a1f94ef1a3571225a72b107d99 alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/02/davos-man.jpg" srcset="https://politicstoday.org/wp-content/uploads/2023/02/davos-man.jpg 353w" sizes="(max-width: 353px) 100vw, 353px" width="353" height="530"  data-dt-location="https://politicstoday.org/?attachment_id=19121" style="--ratio: 353 / 530;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">Peter S. Goodman, Davos Man: How the Billionaires Devoured the World (Custom House 2022)</span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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			<p><span class="r-es-drop-cap">T</span></p>
<p>he COVID19 pandemic revealed to many an eye-opening trend of wealth centralization: the rich are getting richer, and governments around the world are hardly able to protect those who are most vulnerable from the detrimental economic and social effects of a crisis. Who is the culprit?</p>
<p><em>The New York Times</em>&#8216;s award-winning global economics journalist Peter S. Goodman presents a page-turning exposé of the global billionaire class, the “Davos Man,” and its hostile takeover of the world. <em>Davos Man</em> documents billionaires’ exploitation of the COVID19 pandemic, which turned “taxpayer-financed bailout packages into corporate welfare schemes.” This global billionaire class instrumentalized its power to conceal the truth by hiring lobbyists, PR managers, and journalists in media.</p>
<p>Furthermore, Goodman uncovers the concealed impacts of their oligarchic control reaching into every branch of society and modern life, from wages to housing, healthcare to everyday products and taxation. He argues that their systematic plunder ultimately destabilized democracy by widening wealth inequality, leaving governing systems vulnerable, and triggering the rise of anti-democratic nationalism. He provides the answer to the problem of wider context: how did the liberal democratic order become a breeding ground for the right-wing hate?</p>
<p>Goodman not only provides a vividly written description of the realm of the ultra-rich but more importantly the realities of those who are dissipated by their appropriation all around the world including accounts from a blue-collar worker in Buenos Aires, a Bangladeshi migrant in Qatar, a doctor in Seattle during the COVID19 pandemic, an African immigrant in Sweden, a textile manufacturer in Italy, and an Amazon warehouse employee in New York City. <em>Davos Man</em> is a must-read for those concerned about inequality, economic justice, the resilience of societies, democracy, and the great challenges of our time.</p>
<p><em>Peter S. Goodman, Davos Man: How the Billionaires Devoured the World (Custom House 2022)</em> <em>ISBN: 9780063078314, 472 pages</em></p>

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			<p>Read: <a href="https://politicstoday.org/books-on-artificial-intelligence-transforming-war/">Five Books on How Artificial Intelligence Is Transforming the Conduct of War</a></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-b7e3b0c5b60e10f9f80f50cc031183b6 alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/02/41wibppfpbl.jpg" srcset="https://politicstoday.org/wp-content/uploads/2023/02/41wibppfpbl.jpg 329w" sizes="(max-width: 329px) 100vw, 329px" width="329" height="499"  data-dt-location="https://politicstoday.org/?attachment_id=19123" style="--ratio: 329 / 499;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">Kimberly Kay Hoang, Spiderweb Capitalism: How Global Elites Exploit Frontier Markets (Princeton University Press 2022) </span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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			<p><span class="r-es-drop-cap">T</span>he anonymous leak of the Panama Papers in 2016 revealed millions of financial and legal documents that show how ultra-high-net-worth individuals hide their money using complex webs of offshore vehicles. How were these structures set and who plays a role?</p>
<p><em>Spiderweb Capitalism</em> uncovers the shadow economy and the mechanics behind the illicit movement of wealth across borders through the invisible, complex networks of lawyers, accountants, company secretaries, and fixers.</p>
<p>Sociologist Kimberly Kay Hoang traveled the globe to follow the money through a web-like supersystem and conducted hundreds of in-depth interviews with these ultra-high-net-worth individuals, private wealth managers, fund managers, entrepreneurs, C-suite executives, bankers, auditors, and other financial professionals to find an answer.</p>
<p>Hoang reveals the strategies behind spiderweb capitalism and examines the moral dilemmas of making money in legal, financial, and political gray zones as she traces the flow of capital from offshore funds in places like the Cayman Islands, Samoa, and Panama to special-purpose vehicles and holding companies in Singapore and Hong Kong and risky markets in Vietnam and Myanmar. How are these smaller markets interconnected in a broader system of global capitalism?</p>
<p><em>Spiderweb Capitalism</em> sheds critical light on how global elites capitalize on risky frontier markets.  Hoang argues that spiderweb capitalism explains the rapid rise of foreign capital in risky markets with low levels of trust and cooperation. Economic growth in such markets is a consequence of tightly embedded relations between the economic elite and political elites that result in a variety of corruptions.</p>
<p>Contrary to the “economic mantra that development can only occur in economies with a strong rule of law,” <em>Spiderweb Capitalism </em>shows a paradox of global economic growth sustained through states where the line separating the legal from the corrupt is not always clear. Hoang’s research further reveals that old paradigms like First World/Third World and Global North/Global South are no longer useful for framing the global economy.</p>
<p><em>Spiderweb Capitalism</em> is a unique and worthwhile read, not only uncovering the dynamics of a global system of corruption but also the sociological backgrounds of playing in the grey.</p>
<p><em>Kimberly Kay Hoang, Spiderweb Capitalism: How Global Elites Exploit Frontier Markets (Princeton University Press 2022) ISBN: 9780691229119, 288 pages</em></p>

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			<p>Read: <a href="https://politicstoday.org/the-capital-order-austerity-fascism/">The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism</a></p>

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</style><div class="shortcode-single-image-wrap shortcode-single-image-b9428846d2f12f9995bf65f43de1321c alignleft caption-on  enable-bg-rollover dt-icon-bg-off" style="margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:380px;"><div class="shortcode-single-image pull-left"><div class="fancy-media-wrap" style=""><img loading="lazy" decoding="async" class="preload-me aspect" src="https://politicstoday.org/wp-content/uploads/2023/02/philanthrocapitalism-cs-510x795-1-380x592.png" srcset="https://politicstoday.org/wp-content/uploads/2023/02/philanthrocapitalism-cs-510x795-1-380x592.png 380w, https://politicstoday.org/wp-content/uploads/2023/02/philanthrocapitalism-cs-510x795-1.png 510w" sizes="(max-width: 380px) 100vw, 380px" width="380" height="592"  data-dt-location="https://politicstoday.org/?attachment_id=19124" style="--ratio: 380 / 592;" alt="" /></div></div><div class="shortcode-single-caption"><span class="shortcode-single-caption__text shortcode-single-caption__text--excerpt">Vandana Shiva, Philanthrocapitalism and the Erosion of Democracy: A Global Citizen's Report on the Corporate Control of Technology, Health, and Agriculture (Synergetic Press 2022) </span> <span class="shortcode-single-caption__text shortcode-single-caption__text--content">Book cover</span></div></div>
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<p>n <em>Philanthrocapitalism and the Erosion of Democracy,</em> activist Dr. Vandana Shiva compiles essays and articles from more than 20 authors and organizations to show how ruthless capitalistic exploitation branded as philanthropic altruism forges a direct path to global destruction. According to David Orr, philanthrocapitalists are those who “promise to solve hunger, disease, poverty, and a rapidly destabilizing climate often by selling us more of the same things that made them very rich,” which oftentimes ignores the root causes and inequities.</p>
<p>How do global capitalists wield philanthropy to monopolize and privatize land use, food production, and the public health sector effectively? Through various initiatives, suborganizations, development schemes, and funding mechanisms. The book points out that the Bill &amp; Melinda Gates Foundation&#8217;s empire, in particular, is an intricate network of power and influence solidified by targeted and well-financed PR campaigns to shape public opinion in pursuit of profit and market expansion.</p>
<p><em>Philanthrocapitalism and the Erosion of Democracy</em> criticizes the Bill &amp; Melinda Gates Foundation and similar organizations’ many privileged relationships with private companies, governments, and the World Health Organization that allow them exclusively to set the global agenda on health. The book argues that simplified solutions based on technical and scientific developments introduced by these organizations are often narrow in scope and remain insufficient in solving complex problems. Furthermore, they corrode the integrity of democratic institutions guised under a banner of future-oriented innovation.</p>
<p><em>Philanthrocapitalism and the Erosion of Democracy</em> reveals the destructive power of overly capitalistic systems that enable mass human suffering and environmental catastrophe via the entanglement of private investment and public policy, and aims to bring forward democratic discussions about transparency, accountability, and inclusivity.</p>
<p><em>Vandana Shiva</em><em>, Philanthrocapitalism and the Erosion of Democracy: A Global Citizen&#8217;s Report on the Corporate Control of Technology, Health, and Agriculture (Synergetic Press 2022) ISBN: 9780907791911, 240 pages</em></p>

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</div></article></div><div class="visible wf-cell" data-post-id="30630" data-date="2026-09-03T10:00:23+03:00" data-name="Asia Moves to Strengthen Oil and Gas Reserves After Strait of Hormuz Crisis"><article class="post project-odd visible post-30630 type-post status-publish format-standard has-post-thumbnail hentry category-news category-middle-east category-energy tag-china tag-united-states tag-iran tag-russia pt_topic-global-economy category-1 category-23 category-37 description-off" data-name="Asia Moves to Strengthen Oil and Gas Reserves After Strait of Hormuz Crisis" data-date="2026-09-03T10:00:23+03:00">

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<div class="post-entry-content">

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		<a href="https://politicstoday.org/asia-moves-to-strengthen-oil-and-gas-reserves-after-strait-of-hormuz-crisis/" title="Asia Moves to Strengthen Oil and Gas Reserves After Strait of Hormuz Crisis" rel="bookmark">Asia Moves to Strengthen Oil and Gas Reserves After Strait of Hormuz Crisis</a>
	</h3>

	<div class="entry-meta"><span class="category-link"><a href="https://politicstoday.org/category/energy/">Energy</a></span><a class="author vcard" href="https://politicstoday.org/author/politics-today/" title="View all posts by Politics Today" rel="author">By <span class="fn">Politics Today</span></a></div>
	
	
</div></article></div><div class="visible wf-cell" data-post-id="30627" data-date="2026-09-03T09:59:10+03:00" data-name="US Strike on Wedding in Southern Iran Kills Four, Wounds More Than 60"><article class="post project-odd visible post-30627 type-post status-publish format-standard has-post-thumbnail hentry category-news category-middle-east category-world tag-united-states tag-iran pt_topic-sectarianism pt_topic-terrorism category-1 category-23 category-24 description-off" data-name="US Strike on Wedding in Southern Iran Kills Four, Wounds More Than 60" data-date="2026-09-03T09:59:10+03:00">

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</div></article></div></div><!-- iso-container|iso-grid --></div></div></div></div></div>    <div class="c-space  c-space--20 c-space--custom"></div>
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</div><p>The post <a href="https://politicstoday.org/books-on-global-corruption/">Three Books That Reveal How Global Corruption Makes the World Go Round</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
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		<title>What can Turkey learn from the South Korean Development Experience?</title>
		<link>https://politicstoday.org/what-can-turkey-learn-from-the-south-korean-development-experience/</link>
		
		<dc:creator><![CDATA[Politics Today]]></dc:creator>
		<pubDate>Tue, 08 May 2018 23:14:50 +0000</pubDate>
				<category><![CDATA[Turkey]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Column]]></category>
		<category><![CDATA[Developing Countries]]></category>
		<category><![CDATA[Industrialization]]></category>
		<category><![CDATA[Development]]></category>
		<category><![CDATA[South Korea]]></category>
		<guid isPermaLink="false">https://politicstoday.org/what-can-turkey-learn-from-the-south-korean-development-experience/</guid>

					<description><![CDATA[<div><img width="300" height="203" src="https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-300x203.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-300x203.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-1024x694.jpg 1024w, https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-768x520.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web.jpg 1200w" sizes="(max-width: 300px) 100vw, 300px" /></div>
<p>Over the last few years Turkey has started to give more importance to the manufacturing industry in order to reverse its pre-mature deindustrialization process, create more jobs and to escape the middle income trap. The Turkish government has been giving economic incentives to encourage more investment in key areas, such as automobile, defense industry, railway systems, renewable energy technologies, petro chemical industry, medical devices and so on. We need to investigate the South Korean development experience more carefully in order to raise efficiency of these incentives and investments.</p>
<p>The post <a href="https://politicstoday.org/what-can-turkey-learn-from-the-south-korean-development-experience/">What can Turkey learn from the South Korean Development Experience?</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div><img width="300" height="203" src="https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-300x203.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-300x203.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-1024x694.jpg 1024w, https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web-768x520.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/20180503_2_30143200_33305043_Web.jpg 1200w" sizes="(max-width: 300px) 100vw, 300px" /></div><div class="wpb-content-wrapper"><div class="vc_row wpb_row vc_row-fluid"><div class="wpb_column vc_column_container vc_col-sm-8 vc_col-sm-offset-2"><div class="vc_column-inner"><div class="wpb_wrapper">    <div class="c-space  c-space--21 c-space--custom"></div>
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			<p><span class="r-es-drop-cap">I</span>n the last week of April, heralding the coming of spring, the North Korean and South Korean leaders held a historic summit. Although apparently intimate meetings between the two leaders were described as a positive step towards stabilizing the region, there is much effort to be made. Besides, there are too many questions waiting to be answered. Is North Korea really sincere or trying to save time? How will China react to North Korea’s potential departure from its axis if relations improve? Will South Korean individuals shoulder potential economic burdens, as West Germans did in the past? How long will the Trump administration continue to be dovish against North Korea? Since I am not a political scientist or an international relations expert, I am glad that I don’t have to look for answers to these tough questions. The topic that I want to focus on here is quite different.</p>
<p>Turkish President Recep Tayyip Erdogan made an important visit to South Korea at a time when the 38<sup>th</sup> parallel had experienced a dramatic event for global stability and peace.  President Erdogan and his counterpart Moon Jae-in <a href="https://www.aa.com.tr/en/asia-pacific/turkey-skorea-agree-on-cooperation-for-2023-agenda/1132936">signed four bilateral agreements</a> on cooperation in higher education; information, telecommunication, space and satellite technologies; industry and energy; and health and medical science.  Prime Minister Binali Yildirim and his delegation also made an official visit to South Korea a few months ago. Turkey aims to strengthen its relations with East Asia, both commercially and financially, because <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/j.1758-5899.2010.00066.x">the center of gravity of the world economy</a> has gradually been shifting to Asia.</p>
<p>South Korea is a social laboratory for development economists, enabling them to understand how the state-led development strategy could be implemented successfully. South Korea is one of the few countries that have caught up with the developed world by experiencing a technological big leap with a strong industrialization push. Today, South Korea is the world’s leading spender on R&amp;D as a percentage of GDP, innovating path-breaking technologies, and has global giant companies in different sectors.  In fact, South Korea had a similar level of development, in terms of GDP per capita, with Turkey in the early 1960s.</p>
<p>Turkey implemented a state-led industrialization strategy during the Cold War, just as South Korea did. However, while Turkey failed in this regard, South Korea took off. Smart industrial policies, strong bureaucratic capacity, an export-oriented approach, and a vibrant private sector have facilitated South Korea to climb up the development ladder.</p>
<p>South Korea has given priority to the manufacturing industry while giving incentives and making investments. Why? Compared with agriculture and services, in the manufacturing industry, productivity and spillover effects are higher. The <a href="https://www.wider.unu.edu/sites/default/files/wp2011-075.pdf">manufacturing industry</a> also offers special opportunities for capital accumulation and economies of scale.</p>
<p><a href="https://link.springer.com/chapter/10.1007/978-3-319-70380-0_2">Smart industrial policies</a> are needed to avoid pre-mature a deindustrialization process and the middle income trap. Instead of giving incentives to all firms and industries, developing countries should pick the most promising firms and industries and support them. When giving support, South Korean governments set targets for firms and industries, and monitored them closely.</p>

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</div></article></div></div><!-- iso-container|iso-grid --></div></div></div></div></div></div></div></div></div><div class="vc_row wpb_row vc_row-fluid"><div class="wpb_column vc_column_container vc_col-sm-8 vc_col-sm-offset-2"><div class="vc_column-inner"><div class="wpb_wrapper">    <div class="c-space  c-space--23 c-space--custom"></div>
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			<p>South Korea not only gave incentives to firms and industries, but also used disciplinary measures (e.g., withdrawal of subsidies and preventing the companies from participating in a public procurement). <a href="https://www.tandfonline.com/doi/abs/10.1142/S1793812009000024">The carrot-and-stick approach</a> was one of the most important reasons that made East Asian countries, such as South Korea, more successful than Latin American and Middle East countries.</p>
<p>Government supports and incentives were conditioned on performance, and especially on export performance. South Korea shaped its production structure by targeting mainly global markets, instead of its own market. The South Korean economy has risen with its tremendous export success.</p>
<p>To reap maximum benefit from state support and incentives, South Korean governments have taken into account upstream and downstream industries when designing industrial policies over the years.  Governments gave more support to industries with high backward and forward linkages. By doing so, South Korea increased its productivity level, minimized its dependency on imported high-tech intermediate goods, and offered more jobs to its citizens.</p>
<p>Since industrial policies are multidimensional, ministries and government agencies should work in a coordinated fashion to ensure that policies are implemented properly and efficiently. This is the working principle of the South Korean state. Strong bureaucracy has played a pivotal role in implementing all these policies featly.</p>
<p>In South Korea there is an entrepreneurial spirit that has a global vision and puts production success ahead of monetary success. Entrepreneurs wanted to prove to the whole world that South Koreans could produce as high quality and diverse products as Westerners. It was not enough for them to be an ordinary part of the global production chain, although this is an easy way of making good money with taking little risk. They wanted to be the special one. And they (e.g., Samsung, Hyundai, LG and Kia) did.</p>
<p>Over the last few years Turkey has started to give more importance to the manufacturing industry in order to reverse its pre-mature deindustrialization process, create more jobs and to escape the middle income trap. The Turkish government has been giving economic incentives to encourage more investment in key areas, such as automobile, defense industry, railway systems, renewable energy technologies, petro chemical industry, medical devices and so on. We need to investigate the South Korean development experience more carefully in order to raise efficiency of these incentives and investments.</p>

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</div><p>The post <a href="https://politicstoday.org/what-can-turkey-learn-from-the-south-korean-development-experience/">What can Turkey learn from the South Korean Development Experience?</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
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		<title>Does the Tight Monetary Policy Stance of Central Banks Stand Empirical Scrutiny?</title>
		<link>https://politicstoday.org/does-the-tight-monetary-policy-stance-of-central-banks-stand-empirical-scrutiny/</link>
		
		<dc:creator><![CDATA[Politics Today]]></dc:creator>
		<pubDate>Thu, 03 May 2018 02:24:08 +0000</pubDate>
				<category><![CDATA[Turkey]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Column]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[Developing Countries]]></category>
		<category><![CDATA[Development]]></category>
		<guid isPermaLink="false">https://politicstoday.org/does-the-tight-monetary-policy-stance-of-central-banks-stand-empirical-scrutiny/</guid>

					<description><![CDATA[<div><img width="300" height="186" src="https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-300x186.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-300x186.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-1024x636.jpg 1024w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-768x477.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-1536x953.jpg 1536w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-2048x1271.jpg 2048w" sizes="(max-width: 300px) 100vw, 300px" /></div>
<p>Time is more than ripe for the TCMB to reconsider its monetary policy stance and take into account real factors such as employment, economic growth, income inequality and, last but not least, the development process of the country when constructing monetary policy function. After all, central banks are for the people, right?</p>
<p>The post <a href="https://politicstoday.org/does-the-tight-monetary-policy-stance-of-central-banks-stand-empirical-scrutiny/">Does the Tight Monetary Policy Stance of Central Banks Stand Empirical Scrutiny?</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div><img width="300" height="186" src="https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-300x186.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-300x186.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-1024x636.jpg 1024w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-768x477.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-1536x953.jpg 1536w, https://politicstoday.org/wp-content/uploads/2023/09/820bc9a0-7778-4630-8f68-7d0770b13344-scaled-1-2048x1271.jpg 2048w" sizes="(max-width: 300px) 100vw, 300px" /></div><div class="wpb-content-wrapper"><div class="vc_row wpb_row vc_row-fluid"><div class="wpb_column vc_column_container vc_col-sm-8 vc_col-sm-offset-2"><div class="vc_column-inner"><div class="wpb_wrapper">    <div class="c-space  c-space--25 c-space--custom"></div>
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			<p><span class="r-es-drop-cap">I</span>n my previous <a href="https://thenewturkey.org/why-are-developing-countries-pursuing-wrong-types-of-monetary-policy/">column</a>, I touched upon how neoliberalism and the financialization of the globe have rendered countries around the world susceptible to the caprices of the financial industry. Because of the pervasive influence of the financial industry, many developing countries including Turkey have found themselves in the last two to four decades unable to pursue a growth &#8211; and development &#8211; conducive monetary policy regime, which features a low policy interest rate and an undervalued exchange rate.</p>
<p>Two main developments, namely global liquidity abundance and unnecessarily strict monetary policy on the part of the Turkish Central Bank (TCMB), have accentuated wrong type of monetary policy in Turkey, which features a high policy interest rate and overvalued exchange rate regime in the 2000s. Between 2002 and 2008, the real interest rate hovered well above a staggering 10 percent for the most part. Only with the onset of the global financial crisis, TCMB lowered policy interest rate, albeit very slowly, and hence eased its monetary policy stance. However, the nature of the monetary policy regime did not change and once Turkey recovered from the crisis amid fears of the overheating of the Turkish economy in the 2010-2011 period, TCMB tightened its monetary policy stance too fast and too much, though resulting in not as pronounced a tight monetary policy as before the crisis, one should note.</p>
<p>Since then, TCMB has pursued a (somewhat) strict monetary policy as before purportedly with a view to decreasing the inflation rate, which has already been in moderate levels, but to no avail. This should not come as a surprise, because the Turkish inflation rate experience between 2004-2018 has shown that policy interest rate and real interest rate have had no (negative) discernable effect on the inflation rate. For example, when the real interest rate was 11.8 percent on average between May 2006 and November 2008, the inflation rate averaged out 9.75 percent, surpassing the long-term inflation rate in the 2000s significantly. On the other hand, between 2011 and 2013, real interest rates were well below 10 percent and the average inflation rate was around 7.6 percent, somewhat below long-term average.</p>

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	</h3>

	<div class="entry-meta"><span class="category-link"><a href="https://politicstoday.org/category/middle-east/">Middle East</a></span><a class="author vcard" href="https://politicstoday.org/author/politics-today/" title="View all posts by Politics Today" rel="author">By <span class="fn">Politics Today</span></a></div>
	
	
</div></article></div></div><!-- iso-container|iso-grid --></div></div></div></div></div></div></div></div></div><div class="vc_row wpb_row vc_row-fluid"><div class="wpb_column vc_column_container vc_col-sm-8 vc_col-sm-offset-2"><div class="vc_column-inner"><div class="wpb_wrapper">    <div class="c-space  c-space--27 c-space--custom"></div>
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			<p>Unlike “official monetary policy understanding in the world” and as Post-Keynesian economists <a href="https://www.tandfonline.com/doi/full/10.1080/01603477.2017.1368026">advocate</a>, inflation results mostly from cost-push factors, not demand-pull ones, and the Turkish experience in the 2000s attests that clearly as shown in an empirical paper in a <a href="http://www.tcmb.gov.tr/wps/wcm/connect/bbff9d3a-f0dc-462c-8c62-c3eb19e09109/en1703eng.pdf?MOD=AJPERES&amp;CACHEID=ROOTWORKSPACE-bbff9d3a-f0dc-462c-8c62-c3eb19e09109-m3fw5t2">refereed-journal</a> by TCMB itself. According to the study, half of the inflation in the period of 2006-2016 in Turkey cannot be explained at all, and more than 90 percent of the other half has not been demand-driven, but cost-driven, which is agonizingly at odds with the “weak” theoretical fundamentals on which TCMB constructs its “strict” monetary policy stance.</p>
<p>All in all, the TCMB purportedly has long been trying to contain the inflation rate by a strict monetary policy regime in Turkey, only to no avail on the part of inflation rate, and &#8211; unfortunately to the detriment of the Turkish economy and “common people.” The whole “strict” monetary policy stance in the 2000s has debilitated the real economy in favor of the financial industry, hence the <em>deindustrialization</em> of Turkey. Of course, not to mention the aggravated income inequality emanated from this monetary policy regime. One should add that the same deindustrialization process happened in developing countries such as Brazil in the 2000s. Then, time is more than ripe for the TCMB to reconsider its monetary policy stance and take into account real factors such as employment, economic growth, income inequality and, last but not least, the development process of the country when constructing monetary policy function. After all, central banks are for the people, right?</p>

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</div><p>The post <a href="https://politicstoday.org/does-the-tight-monetary-policy-stance-of-central-banks-stand-empirical-scrutiny/">Does the Tight Monetary Policy Stance of Central Banks Stand Empirical Scrutiny?</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
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		<title>Why Are Developing Countries Pursuing Wrong Types of Monetary Policy?</title>
		<link>https://politicstoday.org/why-are-developing-countries-pursuing-wrong-types-of-monetary-policy/</link>
		
		<dc:creator><![CDATA[Politics Today]]></dc:creator>
		<pubDate>Thu, 19 Apr 2018 00:00:38 +0000</pubDate>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Column]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[Developing Countries]]></category>
		<category><![CDATA[Industrialization]]></category>
		<category><![CDATA[Development]]></category>
		<guid isPermaLink="false">https://politicstoday.org/why-are-developing-countries-pursuing-wrong-types-of-monetary-policy/</guid>

					<description><![CDATA[<div><img width="300" height="200" src="https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-300x200.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-300x200.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-1024x682.jpg 1024w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-768x511.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-1536x1022.jpg 1536w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-2048x1363.jpg 2048w" sizes="(max-width: 300px) 100vw, 300px" /></div>
<p>Pursuing a low policy interest rate – undervalued exchange rate regime has become much harder in the neoliberal era. However, in order to complete industrialization processes, developing countries such as Turkey should adopt this regime.</p>
<p>The post <a href="https://politicstoday.org/why-are-developing-countries-pursuing-wrong-types-of-monetary-policy/">Why Are Developing Countries Pursuing Wrong Types of Monetary Policy?</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div><img width="300" height="200" src="https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-300x200.jpg" class="attachment-medium size-medium wp-post-image" alt="" style="margin-bottom: 15px;" decoding="async" loading="lazy" srcset="https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-300x200.jpg 300w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-1024x682.jpg 1024w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-768x511.jpg 768w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-1536x1022.jpg 1536w, https://politicstoday.org/wp-content/uploads/2023/09/77a3cb99-60ed-4c9d-9f31-ee98af1b4dbc-scaled-1-2048x1363.jpg 2048w" sizes="(max-width: 300px) 100vw, 300px" /></div><div class="wpb-content-wrapper"><div class="vc_row wpb_row vc_row-fluid"><div class="wpb_column vc_column_container vc_col-sm-8 vc_col-sm-offset-2"><div class="vc_column-inner"><div class="wpb_wrapper">    <div class="c-space  c-space--29 c-space--custom"></div>
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			<p><span class="r-es-drop-cap">T</span>here are two main types of monetary policy regimes particularly for developing countries: high policy interest rate – overvalued exchange rate and low policy interest rate – undervalued exchange rate. While there are certain pros and cons for each of these monetary policy regimes, the right one for developing countries is certainly the latter one. However, a majority of developing countries have increasingly found themselves &#8211; for the most part inadvertently and/or unwillingly &#8211; in a position of embracing the former regime since the advent of neoliberalism together with the <a href="https://thenewturkey.org/the-quest-for-financial-stability-in-a-financialized-world/">financialization</a> of the world.</p>
<p>For a relatively closed economy, pursuing monetary policy conducive to the needs of the country is relatively easy. This was the case for developing countries before neoliberalism, which had been implementing import-substitution industrialization (ISI) roughly up until to the 1980s. During the ISI period, the government had controlled the financial system outright or to a great extent. Even in a large number of developing countries, all or most banks had been owned by the state. Besides that, countries around the world had also controlled credit and deposit interest rates in that era. Further, central banks had directly been controlled by the state. These countries were also rather closed in terms of both foreign trade and international capital flows. Therefore, it was rather effortless for these countries to pursue a low policy interest rate – undervalued exchange rate regime in that period.</p>
<p>However, with the rise of neoliberalism, developing countries one-by-one dropped ISI and embraced an export-oriented industrialization (EOI) strategy. With this switch in economic policy, foreign trade has expanded tremendously and international capital movements increased dramatically. Moreover, the financial system was liberated and the caps on interest rates were removed totally. This era also witnessed the privatization of state banks, alongside other state firms, thanks to the privatization wave, which originated from the aura of the <em>Washington Consensus</em>. Hence, developing countries have become much more open both economically and financially. This transformation diminished the capacity of the state to pursue an independent monetary policy <em>from abroad </em>via her central bank.</p>

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</style><div class="blog-shortcode blog-masonry-shortcode-id-24cfb186229f9124c898823a3d23323c mode-grid classic-layout-list jquery-filter dt-css-grid-wrap dt-icon-bg-off resize-by-browser-width loading-effect-none description-under-image " data-padding="15px" data-cur-page="1" data-post-limit="-1" data-pagination-mode="none" data-desktop-columns-num="4" data-v-tablet-columns-num="2" data-h-tablet-columns-num="4" data-phone-columns-num="1" data-width="0px" data-columns="0"><div class="dt-css-grid" ><div class="visible wf-cell" data-post-id="30636" data-date="2026-09-04T11:04:33+03:00" data-name="India’s Gen Alpha Takes to the Streets, Demanding Better Schools"><article class="post project-odd visible post-30636 type-post status-publish format-standard has-post-thumbnail hentry category-news category-politics category-education category-world tag-india tag-india-protest pt_topic-human-rights pt_topic-sectarianism category-1 category-16 category-20 category-24 description-off" data-name="India’s Gen Alpha Takes to the Streets, Demanding Better Schools" data-date="2026-09-04T11:04:33+03:00">

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	<div class="entry-meta"><span class="category-link"><a href="https://politicstoday.org/category/world/">World</a></span><a class="author vcard" href="https://politicstoday.org/author/politics-today/" title="View all posts by Politics Today" rel="author">By <span class="fn">Politics Today</span></a></div>
	
	
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		<a href="https://politicstoday.org/us-strike-on-wedding-in-southern-iran-kills-four-wounds-more-than-60/" title="US Strike on Wedding in Southern Iran Kills Four, Wounds More Than 60" rel="bookmark">US Strike on Wedding in Southern Iran Kills Four, Wounds More Than 60</a>
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			<p>Ironically, the emphasis on the independence of the central bank <em>from the state </em>in neoliberal ideology gained much ground at the same time. In the end, central banks did not become independent <em>from everybody </em>as generally assumed, but their subjugation and independence has changed its nature. In the ISI era, states were the masters of central banks and international markets were not important in that regard at all. On the other hand, in the EOI era, the international financial industry became the master of central banks in developing countries to a great extent, and the influence of the state over central banks dwindled tremendously. Note that states in the developing world also became much more susceptible to international influence both economically and financially within the neoliberal regime.</p>
<p>All in all, pursuing a <em>low policy interest rate – undervalued exchange rate </em>regime has become much harder in the neoliberal era. However, in order to complete industrialization processes, developing countries such as Turkey should adopt this regime. This regime is certainly not enough to the industrialization end, but is a must.</p>

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</div><p>The post <a href="https://politicstoday.org/why-are-developing-countries-pursuing-wrong-types-of-monetary-policy/">Why Are Developing Countries Pursuing Wrong Types of Monetary Policy?</a> appeared first on <a href="https://politicstoday.org">Politics Today</a>.</p>
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