Turkey’s Small Capital, A Player from the Start: Relations with the State and Big Capital

Abstract

This article aims to shed light on the early history of small-scale capital in Turkey. Turkey’s paradigm of development in the 1960s and 1970s, as in other belatedly industrializing countries, meant active state involvement, generally in favor of big capital. This emphasis on the large players has caused small capital’s influence on the era’s state policies to be largely overlooked. This article argues that small capital, popularized in the 1990s with the concept “Anatolian capital,” has deeper roots in Turkish economic and business history than formerly thought.