Abstract
By analysing the dynamics of neoliberalism through a Polanyian lens, this article illustrates the complexities and consequences of neoliberalism in the Turkish context. It examines the rule of the Justice and Development Party (AKP) in Turkey as a manifestation of ‘embedded neoliberalism’. The article delves into the AKP’s ascent to power, its consolidation of authority, and, most notably, its subsequent shift towards authoritarianism and interventionism. It traces the evolution of the AKP’s governance, highlighting its trajectory from a period of ‘soft embeddedness’ to ‘authoritarian embeddedness’. During the ‘soft embeddedness’ phase (2002–2013), the AKP implemented neoliberal policies alongside improved access to credit and social programmes. However, as global economic conditions deteriorated and the contradictions of neoliberalism intensified by 2013, the phase of ‘authoritarian embeddedness’ ensued. This phase not only entailed overtly authoritarian politics but also witnessed an escalation of state interventionism in the economy further contributing to the crisis of the economy and state.
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