A solution to the crisis: The third way

The salvation of our country, and indeed the entire world, lies in the third way: the Kemalist economic and fiscal policy.

Atatürk, the founder and leader of the Republic of Turkey, and his loyal Kemalist cadre regarded financial independence as a matter of dignity and honor. The Kemalist system of thought is a rational, pragmatic, original, scientific, and profound system of thought put forward to base political and cultural independence on economic independence, with the aim of rescuing the Republic of Turkey from an underdeveloped, semi-colonial economy. Just as the practice of state-led planned industrialization and development in underdeveloped countries was first realized by Atatürk, it is possible for us to achieve the same today. By rebuilding our state, we can realize development and industrialization in accordance with the understanding of a pioneering and effective state.

The crisis that has been deepening in our country for a long time is becoming chronic. So, what kind of crisis awaits our country in this process? The elements of this crisis are: a pension crisis, a poverty crisis, a stagnation crisis, an unemployment crisis, a currency crisis, a balance of payments crisis, a banking crisis, a twin deficit crisis, an external debt crisis, and systemic crises. Attributing the crisis in our country to wars in the world would be a historical fallacy. The crisis in our country is a structural crisis. This structural crisis has been caused by the "necktie-less" (informal/unprofessional) approach to politics and economics, as well as an economy of waste and corruption that prevails in our country. The aforementioned approach, which has hollowed out all public institutions and organizations, has created a structure suitable for its own political corruption and rent-seeking activities.

The economic crisis in our country is becoming even more widespread. If measures are not taken, the Turkish economy will feel the effects of this crisis for many years to come.

Short-term solution proposals are as follows:

Prioritizing the rescue and incentivization of companies to prevent the dismissal of workers,

Assuming company debts or spreading them over a long term without interest,

Assuming the debts of households,

Increasing the money supply and directing investment,

Postponing SGK (Social Security Institution) and tax debts; along with these, not collecting them for 3 months,

It is necessary to solve the financial problems of companies that produce and have a share in employment, and to provide them with incentives.

In the long term, we must transition to an economy of investment, industry, and production in order to urgently implement structural reforms for the reconstruction of our country. If these are not done, it is possible that we will face unemployment and stagnation that may last for years. Likewise, it may be the case that institutions that have remained within the formal economy may move or be pushed into the informal economy.

The political power must present an economic package to resolve this problem.

In conclusion, the primary duty of the state is to ensure the happiness of its citizens. If we want to live with dignity in a country where justice, law, reason, and science prevail; where no one harms anyone else, and everyone is given what they deserve, we have no choice but to implement an economic and fiscal policy that will ensure the reconstruction of the social welfare state—a third way—envisioned by Atatürk, the greatest leader of the last century and the leader of oppressed peoples.

Goodbye neoliberalism. The solution: The third way.