Turkey: Bankruptcy of Neoliberal Policies and the Possibility of Alternatives
Author(s)
Orhangazi, Ozgur
Abstract
The year 2001 in Turkey has been marked by a destructive economic crisis. This paper argues that the crisis can neither be explained solely by the coincidence of independent events nor by technical problems of economic policies. The increased fragility of the system after the implementation of an International Monetary Fund (IMF)-directed “disinflation and stabilization” program paved the way for the collapse of both the program itself and the economy. Insistence on these types of policies will only worsen the conditions, and results of the policies are both economically and socially undesirable. This paper proposes alternative policies and tools, which will provide improvements in growth, employment, and income distribution.
