ABSTRACT
During the fifty-seven years since the foundation of the Republic Turkey's economic life has been transformed. The rapid growth of cities and the gradual spread of education and better communications had fundamentally altered most Turks’ perceptions of themselves and the world. Foreign capital had played only a small part in the industrial development of Turkey so that, at best, the Turkish Marxists were reduced to assuming that there was ‘collaboration between imperialism and the domestic finance-oligarchy. Since the rate of population increase could be expected to fall between 1980 and the end of the century, per capita GNP could well grow faster than it had done over the previous thirty years. Turkey's most pressing economic dilemmas were in the medium rather than the long term. The Turkish government would have been almost unique in the non-communist world if they had not sought to use control of the money supply as their primary weapon in the battle against inflation.
