Saturday, 26 November 2016

Inequality vs. Clustering

To be threaten as unequal, first step is to be clustered into one group, or groups. This means that every person should take place within a sub-group before fighting for equality.
This is also related to human being. Let's imagine that we have an opportunity to give to all people equal opportunities under equal starting points. There will always be people who aim to achieve more, this is natural even for all living units. Hopefully, there will be, since we would never have seen any innovation or development in the world.
Apart from this situation, when we mention inequality, we have pre-learnt sub-groups. Even there might be other sub-groups (small or large), statistically or in order to have more credibility, one has to wait until these groups become clustered naturally or cluster through the global attention.
If we believe in equality, and fighting for it, should we really wait for this clustering? If we would achieve, shouldn't we really threat all sub-groups equal, and think about more inequality may exist in all tiny sub-groups even they are not yet sub-groups?

Thursday, 21 April 2016

Hello modern slavery vs high housing demand in England

Let's just say hello to modern slavery in the UK. A country where room prices are from £400 per month, where minimum hourly wage is £7.20. Why these numbers? Because I will tell you a story. A story on modern slavery. Even, a slavery that you pay while working...
First type of slavery is "volunteering". If I am not able to pay £400, I am basically homeless. Even if I can pay £200 or £300 per month, since I cannot find any room at those prices, I cannot afford a room. I go on volunteering with babysitting for 2 children, we agree on 5 hours per day and 5 days per week with a foreign lady. I pay my rent through my labour 25 hours per week. If I work 25 hours, I can make £180 per week which means £720 per month! My room is an ensuite room and I have free meal that  may cost maximum £600 or £700 totally, since ensuite room prices start from £500 where I live. Until this point, everything seems okay, under the condition that everyone respects volunteering hours. However, the most of days, I found myself waiting for her 4-5 hours more than agreed hours. I have decided to stay there just because my budget was not enough for paying a room £400 (plus deposit for the starting) after paying university fees and many expenses on my UK visa. In the case of volunteering, for exceeding 10 hours per week, she should have paid £72 per week which means £288 per month. This amount that she should pay is just equal to my labour which is not paid!!! If you have no chance, you find yourself in a modern slavery! She does not pay for the service that she receives, and someone else who really needs this volunteering as a job cannot find this job because of this volunteering.

Another modern slavery story is called as "home carer". In this case, there is an elderly person who needs soft help such as cooking, cleaning, shopping, and helping if needed but not personal care. There are many companies which work on this, and only these companies profit from caring :) Elderly person pays £99 to the company. The carer pays £149 to the company and provides this service for the elderly person. If you do not have enough budget for a room, just pay less and work! In the beginning they say that there are 10 hours per week working/or helping. However, on the contract, you find that there is a condition stating you have to sleep every day at home and only 3 days you are allowed to be out in one month, and you have some free time in the afternoon. The companies advertise this opportunity as a low cost accommodation and as an opportunity for meeting with new cultures. You pay, you work! Hello modern slavery to be bought!

Thursday, 15 October 2015

My RG Profile

Hello after a very longtime :) Please visit my Research Gate profile. A new page of a PhD to be :) Here is the link:

Wednesday, 19 February 2014

Step backwards in Turkey

As I always say, I don't aim to write a blog about politics or law in Turkey. But as a Turkish citizen, I will be sad forever what it's happening in Turkey about new internet law. So, I needed to say or write a little bit. After that the Parliament has adopted this law, to expect a different vision from the President, it would be irrational. If we think that all the authorities (as belong to the government, in these days... Just we need to see that these laws, these approvals, are such that step backwards. While they have already started with Turkish press (where we couldn't/can't see anything that the government didn't want/doesn't want). Now, they interfere in all our rights of information access. Just as a open letter to the all web browsers and to the all search engines... Help!!!

Thursday, 30 January 2014

money policy decisions at midnight

The situation in Turkey from December, 17 was continuing, with especially EUR/TRY and USD/TRY rates, (recorded highest rates as... 3.203 and 2.3335)
Then, Central Bank of Turkey decided to intervene as for controlling this high leakage of Turkish Lira.
Today I mean at midnight, they have announced that the interest rates and one week repo rate  in the interbank market and BIST Repo Repurchase-Reverse Repurchase Agreement markets, have been increased as: 

  • Overnight Interest Rates: Marginal Funding Rate from 7.75% to 12%, borrowing rate from 3.5% to 8%, and the interest rate on borrowing facilities provided for primary dealers via repo transactions from 6.75% to 11.5%.
  • One-week repo rate, from 4.5% to 10%.
  • Late Liquidity Window Interest Rates (between 4:00 p.m. – 5:00 p.m.): Borrowing rate is kept at 0%, lending rate, from 10.25% to 15%.

With these these announcements, EUR/TRY and USD/TRY rates followed a downtrend during the day. But, in the medium run, surely, a high inflation rate problem can be arisen.
On the other hand, tonight The US Federal Reserve reduced its monthly asset purchases by $10bn - as expected. But this reduction in the monetary expansion of USA, even it has been expected, in Turkey, can cause the expectations about increasing of USD/TRY rate. In the medium run, I think that Central Bank's interest rates decisions will be less effective on USD/TRY rate than EUR/TRY rate.

Monday, 6 January 2014

some corruption in these days

In these days, in Turkey... having a government which is on the news with some corruptions and bribery scandals. Actually, all Turkish people need more explications about this scandal, especially from prime minister. But, on the contrary, instead of making a detailed declaration, he defends his ministers and deputies.
We can just see meanwhile, how doesn't it work our law system... as the recent lawsuits (e.g Balyoz, Ergenekon)... But, these recent lawsuits won't be this post's topic.
How doesn't it work our law system, while the government can change all constitutional provision as they wish and while all prosecutors are accredited by the government as they wish...
We can see at the same time, how doesn't the government reach to the targets for exchanges rates.
As of the last friday of 2013, EUR/TL was 2.97 and USD/TL was 2.15, BIST 100 index was 63.885.
Also, we could see two kinds of TV channel, just as during the Gezi Park protests. Because, people protested this corruption and bribery scandal on the streets, in Istanbul, Ankara etc. Most TV channels do not show anything, while these protests are broadcast live by 2 or 3 TV channels.
At the same time, while the prime minister declares to the people which acclaim him at the airport, that the nation will decide at the elections whether these ministers and deputies are guilty or not. That means that if Turkish people vote for this political party, he can say then these ministers and deputies are innocent. However, it is clear that it's only the judicial authority which can decide.
Where the most powerful side of them is  "economic stability" according to them, it is not possible to see an economic stability situation with these figures of exchange rates and stock exchange indices. For foreign and domestic investors, Turkey  is on the way to not be a secure place. Happy new year and goodbye hot money...

Saturday, 14 September 2013

need of an economic theory

More than a statistical analysis... Before all that we will do, we need an (or more than one) economic theory (theories). That is true that statistics will always help us, but not will be alone to help. All results can be significant, but unless there is not a connection with an economic theory. 

So, an econometrician may not be a specialist on each economic theory, but at least has to know the recent literature of own research. But, in my opinion, to know a subject is more important than to do numerous analyses without knowing exactly the economic theory behind the research subject. 

It is clear that, while explaining an economic relation, ignoring the economic theory behind this economic relation, is not reasonable. 

Our knowledge about the theory is helpful and guiding about our expectations from our estimations. To know, to interpret and to use our findings, always there exists a need of an economic theory.