The Pre-1980 Roots of Neoliberal Financial Deregulation

U.S. financial deregulation is often popularly presented as a fundamental attack on financial regulation that began with neoliberalism's Big Bang in 1980. This paper argues this position is wrong in two ways. First, it is a process that stretches back decades before 1980. Textbook mentions of 1970s precursor "financial innovations" fall far short of presenting the breadth and duration of the pre-1980 attack on the system of regulation. Second, it has not been an across-the-board attack on financial regulation in the name of market efficiency as required by its ideology and claimed by its advocates, but rather a focused attack on only one of the five pillars of the system of regulation. This paper develops both of these assertions through a presentation of the five central pillars of the pre-1980 system of financial regulation, and the four major attacks on the three different aspects of the restrictions on financial competition.

The Turkish Drawbridge: European Integration and the Cultural Economics of National Planning

This article examines the relations between the Turkish State Planning Organisation (SPO) and the Western economic system during the first two decades of national planning in Turkey (1960–1980). It traces how the SPO, established with the guidance and full endorsement of international economic institutions came to vehemently oppose Turkish participation in one of their pillars: the European Economic Community (EEC), the predecessor of the European Union. It argues that the shift in the SPO's world-view was founded upon two distinct understandings of the Turkish nation and its development, situates these understandings within the intellectual history of Turkey's past ambivalence towards the West, and, in doing so, provides a historical case-study of the ideological clash between modernisation and dependency theories of development.

The Turkish Drawbridge: European Integration and the Cultural Economics of National Planning

This article examines the relations between the Turkish State Planning Organisation (SPO) and the Western economic system during the first two decades of national planning in Turkey (1960-1980). It traces how the SPO, established with the guidance and full endorsement of international economic institutions came to vehemently oppose Turkish participation in one of their pillars: the European Economic Community (EEC), the predecessor of the European Union. It argues that the shift in the SPO's world-view was founded upon two distinct understandings of the Turkish nation and its development, situates these understandings within the intellectual history of Turkey's past ambivalence towards the West, and, in doing so, provides a historical case-study of the ideological clash between modernisation and dependency theories of development.