Wikipedia:Reference desk/Archives/Humanities/2016 August 27

= August 27 =

Theories of justification/Philosophy
I'm trying to find an article I lost track of. I know my description is rather obscure but stick with me. I can't remember what most of it was about however at the bottom of the article it had bodies of thought and showed how they opposed one another for example:

Idealism · Realism Subjectivity · Objectivity

etc. Does anyone know where I can find this page? — Preceding unsigned comment added by 74.196.117.134 (talk) 13:50, 27 August 2016 (UTC)
 * The general topic is Epistemology, and we have articles on the specific topics you mention (Idealism, Realism, Subjectivity, Objectivity), although the links don't appear in exactly that format in the main article. Tevildo (talk) 17:20, 27 August 2016 (UTC)


 * It isn't Theory of justification that you're looking for, is it? Looie496 (talk) 18:02, 27 August 2016 (UTC)

Ukraine. Impossible trinity. Hryvna depreciation
According the article Impossible trinity if a country sets own interest rate lower than global (e.g. IMF's), then the national currency must depreciate. But during 2014-2016 we saw interest rates in Ukraine much higher of global:

http://www.bank.gov.ua/files/Inter_r_ref_e.xls

Interest rates of banks' refinancing by the National Bank of Ukraine (% annual) Period	NBU discount rate 1

2014	14.0 January	6.5 February	6.5 March	6.5 April	9.5 May	9.5 June	9.5 July	12.5 August	12.5 September	12.5 October	12.5 November	14.0 December	14.0 2015	22.0 January	14.0 February	19.5 March	30.0 April	30.0 May	30.0 June	30.0 July	30.0 August	27.0 September	22.0 October	22.0 November	22.0 December	22.0 2016	January	22.0 February	22.0 March	22.0 April	19.0 May	18.0 June	16.5 July	15.5

Also we saw the exchange rate went up from 8 UAH/USD in 2014 to 25 UAH/USD in 2016 (in 02.2014 fixed exchange rate was canceled). https://bank.gov.ua/control/en/curmetal/currency/search?formType=searchPeriodForm&time_step=daily&currency=169&periodStartTime=01.01.2014&periodEndTime=27.08.2016&outer=table&execute=Search

Also according GDP by PPP or Big Mac index correct exchange rate must be 8 UAH/USD. So Ukraine has not free capital flow.

So my questions are: 1) Why while interest rates were higher of global Hryvna didn't appreciate? 2) Ukraine has neither fixed exchange rate nor free capital flow. How is it possible? — Preceding unsigned comment added by 37.52.45.254 (talk) 18:11, 27 August 2016 (UTC)


 * Two years is a short period, and that doesn't mean the trend is sustainable over the long term. And the war with Russia certainly must have disrupted the economy, perhaps this had some affect here. StuRat (talk) 00:18, 29 August 2016 (UTC)


 * I don't think war has any significant effect. GDP by PPP IMF, World Economic Outlook Database, April 2016 did not decrease 3 times, but only 16% from $392.619 bln in 2013 to $339.481 bln in 2015. Also there was no increase of money in circulation. Do you mean the whole thing is the result of speculations? 37.52.45.254 (talk) 04:59, 29 August 2016 (UTC)


 * No, I didn't mention speculation. But why do you think a major conflict would have no effect on the economy ?  Note that war can either hurt of help the economy.  If infrastructure, means of production, and workers are destroyed, the economy can be damaged, while if the government puts everybody to work (many on war production), this can help the economy.  For example, WW2 seemed to help pull the US out of the Great Depression.  StuRat (talk) 13:49, 29 August 2016 (UTC)


 * Firstly, the article correctly says that in the circumstances you describe, there will be a depreciation pressure on the currency, and explains how capital controls or, in the short-term, selling foreign reserves, could prevent actual depreciation. But, more importantly, just because this situation creates a depreciation pressure does not mean that switching one condition will automatically mean that the currency appreciates.  There are many other factors affecting exchange rates; this introductory article seems to cover them pretty well. Warofdreams talk 19:29, 29 August 2016 (UTC)