ATA 522-PART 2 BOĞAZİÇİ UNIVERSITY 2007 Prof. Dr. Zafer Toprak First part available at: under faculty / Zafer Toprak.

ATA 522-PART 2

 BOĞAZİÇİ UNIVERSITY 2007BOĞAZİÇİ UNIVERSITY 2007

Prof. Dr. Zafer Toprak

First part available at: www.ata.boun.edu

under faculty / Zafer Toprak

Establishment of the Turkish Republic

29 October 1923

Consolidation of power 1923-1927

Ankara – Capital of the Republic 1923

Growing tension between Ankara & Istanbul

Kemalists in minority

Opponents (Islamists & liberals)

To restore the Sultanate

Assembly dissolved 1 April 1923

Tightly controlled new elections June 1923

The new chamber 11 August 1923

A new party – Vangard of change

The inaugural congress of RPP 9 August 1923

Ankara – new capital

Adoption of a new Constitution 20 April 1924Anayasa = Teşkilat-ı Esasiye Kanunu

Incorporating the principles of the Constitutional Act of 1921Teşkilat-ı Esasiye Kanunu

Concentration of all three government powers

in the one-house National Assembly Millet Meclisi

Executive – Legislative – Judiciary (Tevhid-i kuvva)

(TBMM- Türkiye Büyük Millet Meclisi)

to be elected by indirect vote

The indirect two-tier system of election

(İki dereceli seçim)

1923-up to 1946

1923 - 27 - 31 - 35 - 39 - 43

Abolition of the Caliphate 1924

Members of the Ottoman Dynasty left Turkey

* * *

17 November 1924 Progressive Republican Party

( Terakkiperver Cumhuriyet Fırkası )

Republic – Premature decision

Radicals: Inönü

versus

Moderates: Hüseyin Rauf

Minority within RPP - 32 deputies

Corruption – possesions of Greek migrants

People’s Party – Republican People’s Party(Halk Fırkası – Cumhuriyet Halk Fırkası)

Cumhuriyet Halk Partisi 1935

Radical & authoritarian - Centralist

Unity of powers (Tevhid-i kuvva)

National economic policy

Revolutionary changes

The indirect two-tier system of election

Progressive Republican Party( Terakkiperver Cumhuriyet Fırkası )

Liberal –Decentralization

Separation of powers

Liberal economic policy = Foreign loans + capitalEvolutionary changes

Direct elections by universal suffrage

Minimum state intervention

The Issue of Regime - Conservatives

Caliphate –

Spritual leader and president of the assemby

An Islamic constitutional regime

Caliph to ratify all legislation

Legislation in line with the Şeriat

the legal code of Islam

Revolutionaries

The notion of an Islamic state – anathema / curse

Islamic state – to maintain the status quo

Modern national state –

Secular & rational

Science & Modern Education

ORIENTATION TOWARDS SECULARISM - LAİKLİK

Three Revolutionary Laws -  3 March 1924(Üç Devrim Yasası)

1 - Abolition of the Caliphate (Hilafet)

2 - Replacement of Ministry of Religious Law and Pious Foundation by The Directorate of Religious Affairs (Diyanet İşleri)

3 - Unification of the educational institutions ( Tevhid-i Tedrisat )

11 February 1924

Kurdish revolt headed by Şeyh SaitElazığ

Purpose:

Establishment of an independent Kurdish state

Restoration the Caliphate 

4 March 1925

Promulgation of the Maintenance of Order Law

( Takrir-i Sükun Kanunu )

2 years

To ban any organization or publication

considered as

the cause of disturbance to law and order

Opposed by PRP – too elastic

Two independence tribunals

Eastern provinces – Rest of the country

Deportation

Compulsory settlement in the West

Kurdish identity officially denied

Constitutional identity replaced ethnic identities

Extensive powers

to deal with a) rebels, b ) reactionaries c) subversive elements.

Martial law ( Sıkı yönetim )

To suppress the Kurdish uprisings

8 newspapers and periodicals closed down

Leading journalists, columnists from Istanbul arrested

The PRP closed down 3 June 1925

Accused of

A - Giving support to the rebellion

B - Exploiting religion for political purposes

Consolidation of power

History repeats itself

1908-1912 pluralistic – relatively free

1913-1918 – power monopoly

Radical program of secularization and modernization

Removal of Şeyhülislam from cabinet etc.

* * *

1920-1925 / 27 pluralistic

1925 – 1945 authoritarian regime

A program of reforms

Alternatives:

A - Democratic system with a slower pace

B - Autoritarian system with radical reforms

The dilamma

Democracy versus Republic

Strengthening and survival of the State

Independence Tribunals - Revolutionary courts

( İstiklal Mahkemeleri )

established in 1920

reactivated

Political opposition and its press silenced

Discontent arising from a) unfavorable economic situation&

b) unpopularity of the reforms

A plot to assasinate Mustafa Kemal June 1926

Led by Ziya Hurşit

Prominent Unionists and PRP adherants arrested

Accused of planning a coup d’etat

Kara Kemal, regarded as the brain behind the attempt

Death sentence - Shot himself

1927 – End of the troubled post-war period

Second Congress of the RPP

Retrospectively adopting Sivas as first congress

36-hour Speech

(Nutuk)

A report on the national movement from 1919 to 1927

Vindication / justification of the purges (1925-1926)

Criticism of the former leaders of PRP

Disregard the earlier phase of the resistance

Nutuk determined historical vision of

the genesis of New Turkish State

THREE BASIC

FUNDAMENTAL PRINCIPLES

OF THE TURKISH REPUBLIC

1927

NATIONALISM,

SECULARISM, LAICISM

POPULISM 

NATIONALISM 

Nationalism based on the sovereignty of the nation( Hakimiyet-i Milliye – Ulusal Egemenlik ) 

The task of building a national stateUlusal Devlet

 A culturally homogeneous Turkey

From Nation-State to National StateNation-State = Economic entity

 Strengthening a feeling of national consciousness in the individual

Türk ( Ulusal bilinç )

POPULISM 

Adaptation of Western ideas of democracy to domestic needs

 A mean of securing social unity

around the ideals of nationalism

A society to be composed

not of classes

but of individuals assembled in occupational groups

(businessmen, government officials, farmers, craftsmen)

dependent of each other

A consentual society

Economic interests of any not conflicting with others’  

The People’s Party

( Halk Fırkası ) – ( Cumhuriyet Halk Fırkası 1924 )

“the synthesis of the people”,

the sole representative of all these groups,

uniting link among them.

The First Program of the Party (1931) 

Populism

is the means of

preserving the unity of Turkish society

by not yielding to class struggle.  

Rejection of class-structure 

REFORMS 

The ultimate purpose: Modernity

Modernization of Turkish society

by supplanting its

traditionalist, emotional ways and customs

with rationalist, modernist ideas

CITIZEN - YURTTAŞ

 New individual or citizen (Yurttaş)

a) rationalist

b) anti-traditionalist

c) anti-clerical person

1924Abolition of religious courts ( Şer’i mahkemeler )

1925

The shrines, sects, convents and monasteries closed.( türbe, tekke, zaviye)

Sartorial reforms – Concerned with men’s clothes

Religious vestments - clothes or insignia by persons not holding religious office forbidden

Civil servants to wear the clothes common to the civilized nations – Western suit and hat

1925

European calender (Gregorian) adopted

International solar calendar (miladî takvim) replaced

Islamic lunar one (hicrî takvim)

24-Hour International Clock replacing time concept based on prayer timing

Zevâlî Vakit instead of Ezânî Vakit

Changes in symbols

1925

All men to wear hatWearing of fez = Criminal offence

The hat (western style) replaced the fez (Mahmud II)

Hierarchical titles (Paşa) abolished

Economic / Financial Reforms

The religous / tithe tax (aşar) abolishedSecular / indirect taxes replaced them

basically istihlak vergileri ve muamele vergisi (quasi VAT)

1926 Legal Reforms

The Civil Code of Switzerland

Obligations Code (Borçlar Kanunu)

Penal (Criminal) Code (Ceza Kanunu)

Commercial Code (Ticaret Kanunu)

Maritime Code (Deniz Ticaret Kanunu)

Civil and Criminal Procedure (Usul Kanunları)

A new system of judicature / administration of justice

The Civil Code of Switzerland

replaced the Mecelle based on Şeriat,

family relations, including

women’s status

on Western foundation

Abolition of religious marriage, repudiation [boş ol !] & polygamy

Civil marriage & divorce

Inheretance

Equal rights for both parties

Marriage of a Muslim woman to a non-Muslim man permitted

Adults given legal right to change religion No more penalty for “tenassur”

A new Law School in Ankara (1925) – Revolutionary law

challenging positivistic İstanbul Law Faculty

Visibility due to low degree of literacy Visual / visible reforms (Post-modern reforms)

versus -

socio-economic reform

partly due to political concerns

Land Reform postponed until 1945

The first statues of Mustafa Kemal in 1926

unveiled in Istanbul at Sarayburnu .

Then statues in Ankara (Canonica) in 1927 and Taksim in 1928

(Islam oppressed reproduction of the human figure)

1928

Western numerals adopted, (Arabic figures)

Romanization 

Latin alphabet replaced Arabic script.

National schools (millet mektepleri)a campaign to teach new “Turkish letters” to adults

1928

 Disestablishment of Islam

2. Article of the Constitution: The religion of the Turkish state is Islam

Islam as an official religion struck from the Constitution 

Arabic and Persian

deleted from high school curriculareplaced by Western languages: French, German, English

Language Reform

First phase: 1910s’ – Genç KalemlerÖmer Seyfettin, Ziya Gökalp, Ali Cânib, etc

Second phase: 1930s’

 The establishment of Turkish Language Institute

(Türk Dil Kurumu) 

The Sun-Language Theory (Güneş Dil Teorisi) Romantic theory:

all languages stemmed from Turkish

1930-1932

Conversion of Turkish Hearths (Türk Ocakları)

into

People’s Houses (Halk Evleri) and People’s Rooms

 1932

Turkish Historical Society (Türk Tarih Kurumu)

Revision of Turkish history. 

1930Women to vote in municipal elections

 1935

Women voted for and elected to the National Assembly. 

1934

Ecclesiastical garb forbidden outside the mosques. 

1935

Family name (Soyadı) law replaced Arab nomenclature

Weekly holiday from Friday to Sunday

Autoritarian modernism

rather than

totalitarian tendencies

Totalitarianism requires media & propoganda

RPP – a power monopoly

An authoritarian One-Party Regime

Not a dictatorship or totalitarian regime

Free discussion – Closed meetings of the parliament

Assembly votes – not a mere formality

Parliaments create their own opposition

Four-yearly parliamentary elections – no ceremonial function

Slates of candidates for parliamentary seats

Congress of 1931

Political system – officially – One-Party State

No independent “Kemalist” ideology

RPP – led by the secretary-general

RPP dominated by member of the TBMM

Prime minister – executive chairman

President – Party chairman

State & Party closely identified

Congruency between

state apparatus & party organisation 1936

Governor of province – head of RPP branch

A ‘tame’ opposition party (1931)

No legal opposition

Underground oppositonInsignificant communist movement

Kurdish nationalism

Dersim (Tunceli) 1937-8Kurds forcibly resettled in the west

Widespread resentment

- Authoritarian behaviour of the RPP

- Favouritism and corruption

- Lack of civil liberties

- Reform policies

World economic crisis

Turkey hardly hit – agricultural producer

A loyal opposition party

Channelling the social discontent

Shaking up lethargic RPP

Fethi (Okyar) – offered to found a new party

Free Republican Party – Serbest Cumhuriyet Fırkası

Faithful to the ideals of republicanism ad secularism

Liberal economic policyEncouragement of foreign investment

Freedom of speech

Direct elections rather than two-tier elections

Widespread enthusiasm – Ecstatic crowds

RPP leaders alarmed

1930 local elections

FRP won in 30 of the 512 councils

RPP alarmed

Fethi Bey accused RPP of

large-scale irregularities & electoral fraud

Fierce attacks on FRP – accused of high treason

Fethi Bey closed down FRP – 16 November 1930

Direct control of cultural and intellecual life

One-Party State

To combat the lethargy

30 in 1931 - 16 in 1935

reserved to independents (müstakil)

Turkish Hearts suppressed – closed down 1931

Reactivated by Hamdullah Suphi (Tanrıöver)

To spread nationalism, positivism and secularism

Lectures, courses & exhibitions

Replaced by People’s Homes in town (500)

People’s Rooms in villages

Same function as Turkish Hearts but

low (popular ) culture rather than high (elite) culture

Women’s People Party - Kadınlar Halk Fırkası 1923

Turkish Women’s Union (Türk Kadınlar Birliği)

Found in 1924

Organized International Women’s Congress 1935

Anglo- Saxon - Anti-militarism and peace movement

Extraordinary congress in May 1935 to disband

Pretext - Its aim (equal rights for women) achieved

With the granting of the vote

The Turkish Freemasons’ lodges closed down

Liberal and socialistic newspaper and periodicals already closed down in 1925

Tomorrow (Yarın) Arif Oruç in 1931

A new press law –

to close down papers

contradicting the “general policies of the country”

University Reform - 1933

Darülfünun (House of Sciences) – University of Istanbul

Purges

Two-thirds of the teaching staff, (100) lost tenure

Dependable followers kept on

New curriculaGerman migrants professors initiated modern sciences in Turkey

Faculty of Language, History & Geography in Ankara 1936Faculty of Economics in İstanbul 1936

Stifling political and intellectual climate

Kemalist elites –Münevver (Enlighteneds - Elite)

Inspired teachers, doctors, writers

To guide ignorant compatriots

Active in People’s Houses

Prolific cultural activities in People’s Houses

Theatre, publications, folkloric dances, ethnographic values

Kemalism

Never a coherent, all-embracing ideology

Flexible concept

The basic principles

Republicanism

Secularism

Nationalism

Populism

Statism

Revolutionism

Six arrows – Altı Ok

First in the program of the RRP

then

Incorporated into constitution 1937

The Age of Ideologies - State ideology

Indoctrination in schools, media and army

Tensions built up within leadership

An open row – divergence of ideas between Atatürk and İnönü

İsmet İnönü replaced by Celal Bayar

Minister of economic affairs 1932

Atatürk passed away - 10 November

İnönü elected president - 11 November

Extraordinary Party Congress – December 1938

The Party statutes changed

Atatürk – Eternal Party Chairman – Ebedi Şef

İnönü – Permenant Party Chairman

Millî Şef – Official title

Difference of opinion – İnönü – Bayar

Over economic policies

Reconciliation with old leaders of independence movement

Return from exile

Autoritarian regimes:

Salazar (Portugal) , Franco (Spain) Metaxas (Greece)

Difference:

Culturally and religiously conservative

Cultural revolution

Claim: Similarities between Italy & Turkey

Extreme nationalism

Legitimization of historical mythology

Racist rhetoric

Authoritarian character of the regime

Efforts to establish totalitarian monopoly for the party

Personality cult

Emphasis on national unity and solidarity

Denial of class conflicts

Differences

Fascism: Popular movement

reaction to

Disruption of traditional society

brought about by industrialization

Threat posed by socialism to the middling strata

Turkey:

Indifferent population

No attempt to mobilize population

No mass rally in the fascist style

No militarist rhetoric

No expansionist & irredentist propaganda

Kemalist regime: Autoritarian modernity

Cautious, defensive and realistic policies

All-powered leader – guiding political principle

Semblance / likeness of democratic system:

Parliament and elections

Invention of citizen

Characteristic element - Secularist drive

Secularization of state, education & law

Attack on the traditional stronghold of institutionalized Islam – Ulema

Separation of state and religion

Control of the state over religion

The Turkish Economic History

The years of deglobalization in the world

The Country economically in shambles / devastated

in ruin in 1923

1923-29A period of institutional change, westernization & reconstruction

Modern development policy with industrialization as its backbone

The Great Depression 1929

Compounded problems

The policy after 1929

Clearing agreements in foreign trade

One of the first examples among developing countries

An inward-looking, import-substitution strategy

Mixed economy with a large public enterprise sector & economic planning

After World War II

The standard policy in decolonized countries

This policy continued until 1980

A short period of liberalization in the early 1950s

Planning became a constitutional requirement in 1961

The inward-looking development policy

The inward-looking policy of import substitution broke down in the late 1970s

Radical turnaround in development strategyLong overdue

The development strategy after 1980Liberalization of trade and export orientation

Turkey in 1923

An agrarian economy with rudimentary modern industry

Frontier economy: abundant resources of uncultivated land

Agricultural expansion

Limited urban working class in the early 1920s

Frontier conquered in the late 1950s

Distribution of uncultivated public land to private smallholders

Periodization

Interwar years, 1923-38

The WWII with following recovery 1939-1953

Democratic rule & agricultural growth 1951-1960

Inward-looking planning, 1961-1977

Reform and export-oriented growth 1980-

The response to the Great Depression 1929-1932

The liberalization years, 1950-1953

The stabilization efforts, 1959-1960, 1978-1979

Until the second half of the 1950s

A frontier economy: abundant unciltivated land

Extensive (horizontal) expansion

1920s

Industrialization based on private entrepreneurship

Support of the emerging domestic industry

The accumulation of private capital in the industrial sector with government intervention whenever necessary

Liberal ?

Emphasis on public financing with the active participation of private local investors and capital contributions from foreign investors

Initially emphasized sectors: Natural areas of IS

Raw metarials could be obtained domestically

Sugar, textiles & cement

Constraints:

1923 Lausanne Peace Treaty

The tariff and tax structure

Frozen tariffs at the level of 1916 until 1929

Differential rates of excise taxes on imported and locally produced commodities prohibited

No quantitative restrictions on foreign trade

Exception: Government monopolies for revenue purposes

Direct investment by foreigners encouraged

Particularly in partnership with Turkish citizens

1/3 of the firms established in the 1920s

Joint ventures

Government subsidization of domestic private enterprise

Decree for the Encouragement of Industry, 1913

Law for the Encouragement of Industry, 1927

A wide variety of incentives and subsidies

Private investors profited from state monopoly of

alcohol, sugar, tobacco, explosives, oil, matches, harbors etc.

Partly farmed out to private companies

Financial infrastructure

In agricultureAgricultural Bank [established in 1888] reorganized 1925

In business & industry

Business Bank (İş Bankası) 1924 State Industrial and Mining Bank 1925

Devlet Sanayi ve Maadin Bankası

İş Bankası & İtibar-ı Milli Bankası merged in 1927

Sümerbank 1933 – Etibank 1935

to meet the shortages of capital for financing industrialization and mining

First Turkish Economic Congress – İzmir February 1923

Importance of economic independence

1100 delegates – Farmers, traders, workers, industrialists[four groups = occupational represeptation]

Choice between liberalism and state intervention

Call for protection of local industry

No opposition to foreign investment

Disparate [essentially different] resolutions – Mixed economy

State responsible for major investments

1920s – Semi-liberal in essence based on private ownership and initiative

State interference – Railways requiring large amount of capital The backbone of economic integration

Ottoman tobacco monopoly bought out – State monopoly An important income for the state budget

End of capitulatory consession

Departure of Greeks and ArmeniansShortage of manpower & entrepreneurial skill

Lausanne Treaty – import tariffs 1929 [transionary period of 5 years] Limited protection for local products

Lack of entrepreneurial know-howLack of prosperous market

Law on the Encouragement of Industry 1913 – 1927

Tax exemptions

Agriculture recoveredReplacement of tithe by sales tax

1927-1928 hit by a long droughtdry weather causing distress

1929 Great Depressionhit hard Turkish economy

terms of trade unfovorable for Turkey

Financial Policies

Conservative – balanced budget, low inflation

DENK BÜTÇE SAĞLAM PARA

Balanced budget – Strong currency

Tight monetary policy - strong TL

Still - trade deficit in the 1920sdue to Lausanne Treaty

1929 A turning point for economic development

The beginning of the Great DepressionTariff and tax autonomy

The year of abolition of the Capitulations in terms of foreign trade

The first installment of the Ottoman debts

To be paid between 1929-1953Suspention of the payments at the end of 1930

Exporter of primary commodities [agricultural]

Turkey sufferred from adverse terms of trade development

A sharp deterioration in external terms of tradeImported goods relatively more expensive than exported goods

By % 23 in 1925-1929% 33 in 1929-1934

A deterioration in internal terms of trade against agricultureITT fell by % 23 in 1929-1934

Growth rates

1927-29 to 1937-39 % 6.3Per capita growth % 4.2

The volume of exports continued to rise in the 1930s

Protection as an infant-industry policy

The new tariff an average nominal protection of % 46 from 1929 onwards

as compared with the previous average rate of % 131916 tariff between 1924-1929

1929 Exceptional year for imports

Huge deficit in balance of paymentAn increase in imports as the last of of liberal policy

A depreciation / devaluation of the TL

Law for the Protection of Turkish Currency 1930authorizing the government to intervene in the local exchange

marketsTürk Parasını Koruma Kanunu

To stabilize the international value of the TL

Bileteral Trade Agreements instead of Free Trade

Clearing Aggreements

Germany to become Turkey’s largest trading partner

Overvaluation of TL – Continuing problem until 1980Aşırı değerli TL

1980 liberalization and reform brought an end to the policies initiated in 1930.

Legislation in June 1931Import restrictions

Quota lists - November 1931

Investment goods + raw material + medical requirements

Import of agricultural and industrial machinery, raw materials, & medicine free

Eliminated from the list: Consumer goods + luxury etc.

Imports of processed food, alcoholic beverages, clothing, shoes, leather goods, some other consumer items

Import licenses distributed administratively = created favoratism

Created economic rents to a limited number of favored importers and producers

Priority for imported goods to prevent large trade deficit

To maintain surpluses on the trade account in order to finance debt service [Ottoman debts]

Result: Severe curtailment in the volume of imports

Declined by % 60 in 1929-1933

Concern for expanding the volume of imports without experiencing trade deficits

Bilateral trade, clearing, and barter agreements during mid-1930s

A worldwide trend

Bilateral trade agreements with German, the united Kingdom, France, & Italy

% 84 of imports & % 81 of exports

Became part of the clearing and reciprocal quota systems in 1934-1939

The exception: the USA

Turkey had a trade surplus against the USA

Industrial output

High rates of growth after 1929

Manufacturing industry averaged over % 15 a year

Total industry including mining and utilities exceeding % 13

Despite the contraction of rural demandarising from curtailment of imports

Import-substituting industrialization

Subsidies in the 1920sProtection in the 1930s

By the end of 1930

Private industry primitive in characterappropriating the rents brought about by the restriction of imports

and protection of the domestic market

A search for a new strategyRadical reorientation of economic policies

Solution: EtatismState to participate in economic affairs

A response to the Great DepressionA common approach: Latin American countries

Mixed economy & government intervention & balance of payments controls

Tendencies toward autarky [ self sufficiency in economy ] in several European countries

The adoption of five-year planning in the Soviet Union

Under etatism

Foreign trade regime

High tariff rates

Balance of payments controls

Quantity restrictions

Control of domestic markets

Direct or indirect price support policies (agricultural commodities)

Prices of some industrial goods controlled

Wages controlled in supported industries = Low wages

Interest rates in financial transactions and banking activities fixed by central authoritiesNo free interest rates

The most conspicious feature of Etatism

The emergence of the state as a major producer & investor

Most of the state monopolies, administered by private firms, transferred to the public sector

Foreign-owned maritime transport companies and railroad, nationalized and transformed into state monopolies

An important role in large-scale investment projects

A Key factor in the development process: State economic enterprises (KİT)

Two Five-year industrial plans drawn up

Preparatory work in late 1932 with the help of Soviet and American advisers

The plan adopted in 1934A detailed list of the investment projects for the public sector

Financing party obtained abroad(Soviet union and the United Kimgdom

The First Five-Year Plan attained by 1938

The Second Five-Year plan, started in 1938, interrupted by the WWII

Agriculture emerged as the leading contributor to growth under etatism

Before etatism, public investment concentrated on transport & communications (railways)

With etatism, public investment shifted toward industry, education & health, & agriculture

Even so, more than half of public investment went into transport and communications.

Investment in transport benefited agriculture

Even in the last years of interwar years% 25 of public investment in industry

against % 50 in agriculture and railroads

World Economic crisis hit very hard

Wheat price declined by 2/3

Terms of trade deteriorated

100 – 1929 46 – 1934

No system of buffer stocks to regulate prices

Loss of purchasing power

Imposition of quatos and restrictions

Imports declined 256 m. TL 1929 85 m. TL 1932

Trade surplus 1930s

Autarky – A practical necessity

An autonomous industry

1929-1932 a period of searching

Statism

State took responsibility for creating and running industries

Lack of accumulated capital in private sector

Soviet delegation 1932

Concentration of textiles, iron and steel, paper, cement, glass and chemicals

1933 First Five-Year plan

Kadro Movement 1932-34

A cadre to act as a vanguard of Kemalist revolution

State planning in all areas of social, economic & cultural life

Third way – a viable alternative to communism and capitalism

İnönü versus Bayar

Sümerbank 1933 – Etibank 1935

State Economic Enterprises

State intervention in agriculture 1932

To regulate prices by building up and selling off stocks

Office for Soil Praducts 1938

End of Part II