A New Approach to Controlling Inflation: Using the Method of Training Wild Horses

OpenAlex İngilizce

The aim of this study is to offer new solutions to the complex inflation processes caused by the free movement of capital after globalization. As a method, the policies used by countries in different geographical regions around the world to combat inflation were examined by scanning the literature. Then, analytical inferences were made on the similarities between the phenomenon of inflation and the taming of wild horses, and various suggestions were presented. In the study, it was emphasized that each country should implement policies customized to its own specific conditions. Because inflation is not only an economic phenomenon but also a social phenomenon, for this reason, standard economic strategies may not always be effective in combating inflation. In this context, it is suggested to establish an independent "inflation board" consisting of experts from different disciplines that take into account local and global economic conditions. In addition to providing suggestions for monetary and fiscal policies, this board can contribute to more effective and sustainable results in combating inflation by conducting monitoring activities and taking additional measures when necessary.