u/konyakisser

The *etatism* (state-led economic policy) of the Atatürk era, in particular, was not socialism, as its aim was not to eliminate the private sector. In fact, this policy existed partly to encourage individuals to engage in the private sector. At the İzmir Economic Congress, a liberal economy was openly advocated. Furthermore, the policy was not opposed to Western capital; on the contrary, it supported it—it was opposed only to the Capitulations. Indeed, Atatürk even asked a close associate to found a party that championed a liberal economy. From a distance, that form of *etatism* might appear to be socialism, but it was not; it was a necessity born of the Great Depression of 1929.