Articles by T Sabri Öncü

In a recent article, Yıldızoğlu (2021) reminded us of the Fermi Paradox, which can be summarised as: Although the probability of the existence of other forms of life in the universe is sufficiently high, why have we not met any? Enrico Fermi, the Italian–American physicist and the creator of the...

What the battle of GameStop has brought into light is that democracy in financial markets is just a myth: whoever controls the valves, controls the flow. The market-making and brokerage markets in the United States are heavily oligopolistic markets in which market-makers and brokers extract huge...

“Financial Assets = Liabilities.” It is one of the great accounting-identity truisms of economic understanding both among traditional, mainstream economists, and even (especially) among many heterodox, “accounting based” practitioners. It seems obvious—when a company issues and sells bonds, it...

Whether a black swan or a scapegoat, Covid-19 is an extraordinary event. Declared by the WHO as a pandemic, Covid-19 has given birth to the concept of the economic “sudden stop.” We need extraordinary measures to contain it.

With intensifying concerns regarding the soundness and stability of the international monetary and financial system, calls for reforming it have been on the rise. One recent call was made by the Bank of England Governor Mark Harvey, in August 2019, in which he suggested a synthetic hegemonic currency to replace the US dollar as the key reserve currency. Whether such calls will lead to an end of the key reserve currency status of the dollar remains to be seen.