Umit Akcay
@umitak.bsky.social
Political economy of development & growth models | Dependent financialization and central banking | Political economy of new authoritarianisms | Turkey | @ipeberlin.bsky.social | https://www.ipe-berlin.org/en/institute/members/uemit-akcay/
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Umit Akcay
@umitak.bsky.social
· Mar 24
Umit Akcay | Substack
Political economist teaching and researching at Berlin School of Economics and Law. Click to read Umit Akcay, a Substack publication with hundreds of subscribers.
umitak.substack.com
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I'll be sharing brief posts on current international political economy, offering a critical political economy viewpoint:
umitak.substack.com
I'll be sharing brief posts on current international political economy, offering a critical political economy viewpoint:
umitak.substack.com
Reposted by Umit Akcay
Between Wall Street and Trump: The Left’s Central Bank Dilemma
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Between Wall Street and Trump: The Left’s Central Bank Dilemma
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
open.substack.com
October 27, 2025 at 9:10 PM
Between Wall Street and Trump: The Left’s Central Bank Dilemma
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
On the New York elections and Mamdani’s win: Both left and right can use the cycle of marketization and counter-movements (Polanyi). What matters is turning this energy into a lasting political strategy.
November 5, 2025 at 5:32 PM
On the New York elections and Mamdani’s win: Both left and right can use the cycle of marketization and counter-movements (Polanyi). What matters is turning this energy into a lasting political strategy.
Reposted by Umit Akcay
Between Wall Street and Trump: The Left’s Central Bank Dilemma
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
By
@umitak.bsky.social
substack.com/app-link/pos...
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
By
@umitak.bsky.social
substack.com/app-link/pos...
Between Wall Street and Trump: The Left’s Central Bank Dilemma
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
substack.com
October 29, 2025 at 3:29 PM
Between Wall Street and Trump: The Left’s Central Bank Dilemma
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
By
@umitak.bsky.social
substack.com/app-link/pos...
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
By
@umitak.bsky.social
substack.com/app-link/pos...
Reposted by Umit Akcay
"..independence entrenches capitalist power, while authoritarian control concentrates it. Both depoliticization and personalism depoliticize society itself, denying collective decision-making about the economy. The challenge is to chart a third path: democratic control without executive domination."
Between Wall Street and Trump: The Left’s Central Bank Dilemma
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Between Wall Street and Trump: The Left’s Central Bank Dilemma
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
open.substack.com
October 28, 2025 at 8:53 AM
"..independence entrenches capitalist power, while authoritarian control concentrates it. Both depoliticization and personalism depoliticize society itself, denying collective decision-making about the economy. The challenge is to chart a third path: democratic control without executive domination."
Between Wall Street and Trump: The Left’s Central Bank Dilemma
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Between Wall Street and Trump: The Left’s Central Bank Dilemma
Between the technocrats of Wall Street and the populists like Trump, the left must reclaim central banking as a site of democratic struggle.
open.substack.com
October 27, 2025 at 9:10 PM
Between Wall Street and Trump: The Left’s Central Bank Dilemma
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Reposted by Umit Akcay
Last week at the EAEPE conference, I presented a co-authored paper on Argentina’s and Turkey’s responses to the 2018 currency crises and their class dynamics. The timing coincided with Milei’s U.S. visit and new support package. Here’s a short blogpost on this:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Argentina in Crisis Mode Again
U.S. bailout buys Milei time, but shock therapy deepens poverty. Like Turkey, dependent financialization offers no exit, only a pause before the next crash.
open.substack.com
October 2, 2025 at 2:24 PM
Last week at the EAEPE conference, I presented a co-authored paper on Argentina’s and Turkey’s responses to the 2018 currency crises and their class dynamics. The timing coincided with Milei’s U.S. visit and new support package. Here’s a short blogpost on this:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Reposted by Umit Akcay
For a concise summary of policy shifts and their broader implications in Turkey and Argentina, see the blog post below 👇 "Looking into Argentina’s mirror, Turkey and the wider Global South can see their own reflection."
Last week at the EAEPE conference, I presented a co-authored paper on Argentina’s and Turkey’s responses to the 2018 currency crises and their class dynamics. The timing coincided with Milei’s U.S. visit and new support package. Here’s a short blogpost on this:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Argentina in Crisis Mode Again
U.S. bailout buys Milei time, but shock therapy deepens poverty. Like Turkey, dependent financialization offers no exit, only a pause before the next crash.
open.substack.com
October 2, 2025 at 5:51 PM
For a concise summary of policy shifts and their broader implications in Turkey and Argentina, see the blog post below 👇 "Looking into Argentina’s mirror, Turkey and the wider Global South can see their own reflection."
Reposted by Umit Akcay
"Both Argentina and Turkey show how class coalitions can briefly expand policy space, but without structural transformation these tactical gains evaporate. In both cases, dependency on volatile capital flows... has forced governments back into orthodoxy and deeper external subordination."
Last week at the EAEPE conference, I presented a co-authored paper on Argentina’s and Turkey’s responses to the 2018 currency crises and their class dynamics. The timing coincided with Milei’s U.S. visit and new support package. Here’s a short blogpost on this:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Argentina in Crisis Mode Again
U.S. bailout buys Milei time, but shock therapy deepens poverty. Like Turkey, dependent financialization offers no exit, only a pause before the next crash.
open.substack.com
October 2, 2025 at 2:34 PM
"Both Argentina and Turkey show how class coalitions can briefly expand policy space, but without structural transformation these tactical gains evaporate. In both cases, dependency on volatile capital flows... has forced governments back into orthodoxy and deeper external subordination."
Last week at the EAEPE conference, I presented a co-authored paper on Argentina’s and Turkey’s responses to the 2018 currency crises and their class dynamics. The timing coincided with Milei’s U.S. visit and new support package. Here’s a short blogpost on this:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Argentina in Crisis Mode Again
U.S. bailout buys Milei time, but shock therapy deepens poverty. Like Turkey, dependent financialization offers no exit, only a pause before the next crash.
open.substack.com
October 2, 2025 at 2:24 PM
Last week at the EAEPE conference, I presented a co-authored paper on Argentina’s and Turkey’s responses to the 2018 currency crises and their class dynamics. The timing coincided with Milei’s U.S. visit and new support package. Here’s a short blogpost on this:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
My brief notes on the Turkey’s peace process with Kurds:
Turkey's Peace Process with Kurds: Are We at a Turning Point?
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Turkey's Peace Process with Kurds: Are We at a Turning Point?
The "peace process" is a top-down power play, but its outcome is far from decided, as it is no one-sided game; the Kurdish movement and the broader opposition hold significant power to shape the peace
open.substack.com
August 20, 2025 at 5:01 PM
My brief notes on the Turkey’s peace process with Kurds:
Turkey's Peace Process with Kurds: Are We at a Turning Point?
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Turkey's Peace Process with Kurds: Are We at a Turning Point?
The "peace process" is a top-down power play, but its outcome is far from decided, as it is no one-sided game; the Kurdish movement and the broader opposition hold significant power to shape the peace
open.substack.com
August 19, 2025 at 3:31 PM
Turkey's Peace Process with Kurds: Are We at a Turning Point?
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Reposted by Umit Akcay
What could a world after capitalism look like? This two-part article in the
@NewLeftReview
is the result of five years of research. I’ll be turning it into a book later this year, so I’d love to hear your comments and critiques. newleftreview.org/issues/ii153...
@NewLeftReview
is the result of five years of research. I’ll be turning it into a book later this year, so I’d love to hear your comments and critiques. newleftreview.org/issues/ii153...
Aaron Benanav, Beyond Capitalism—1, NLR 153, May–June 2025
In the first instalment of a major contribution to the reconceptualization of a post-capitalist social order, Aaron Benanav marshals insights from a long century of socialist thought and practice—Cabe...
newleftreview.org
July 3, 2025 at 7:02 AM
What could a world after capitalism look like? This two-part article in the
@NewLeftReview
is the result of five years of research. I’ll be turning it into a book later this year, so I’d love to hear your comments and critiques. newleftreview.org/issues/ii153...
@NewLeftReview
is the result of five years of research. I’ll be turning it into a book later this year, so I’d love to hear your comments and critiques. newleftreview.org/issues/ii153...
I discussed three emerging dynamics in the global economy: slowdown, militarization, and geopolitical tensions in my recent piece, referencing discussions from the NATO summit and a recent World Bank report:
June 30, 2025 at 3:10 PM
I discussed three emerging dynamics in the global economy: slowdown, militarization, and geopolitical tensions in my recent piece, referencing discussions from the NATO summit and a recent World Bank report:
The strike in an opposition-led municipality (İzmir) revealed how inadequate it is to define democracy and authoritarianism purely through legal-procedural terms. Some brief thoughts on the CHP’s strategy:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Democracy Without Labor? The CHP’s Dilemma in Türkiye’s Democratic Renewal
A democratization agenda that doesn’t center labor will never be strong enough to dismantle authoritarianism’s social foundations.
open.substack.com
June 8, 2025 at 9:55 AM
The strike in an opposition-led municipality (İzmir) revealed how inadequate it is to define democracy and authoritarianism purely through legal-procedural terms. Some brief thoughts on the CHP’s strategy:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
It's actually a civil war within the American capitalist class.
The world's richest man vs. the president of the most powerful state. It looks like a sci-fi movie opening... but this is happening right now!
June 7, 2025 at 3:22 PM
It's actually a civil war within the American capitalist class.
The world's richest man vs. the president of the most powerful state. It looks like a sci-fi movie opening... but this is happening right now!
June 5, 2025 at 7:45 PM
The world's richest man vs. the president of the most powerful state. It looks like a sci-fi movie opening... but this is happening right now!
Reposted by Umit Akcay
English version
umitak.substack.com/p/time-is-ru...
umitak.substack.com/p/time-is-ru...
Time Is Running Out for Türkiye’s Opposition
For Türkiye’s opposition, time is the one resource running out fastest.
umitak.substack.com
June 2, 2025 at 7:08 PM
English version
umitak.substack.com/p/time-is-ru...
umitak.substack.com/p/time-is-ru...
Reposted by Umit Akcay
Excellent overview of the economic situation in Turkey. If it's worsening now, which coincides with an acceleration of repression against the CHP, in the medium term, it could be to the government's advantage -with interest rates falling and the inflation target met.
www.evrensel.net/yazi/97039/m...
www.evrensel.net/yazi/97039/m...
Muhalefetin zamanı daralıyor - Ümit Akçay - Evrensel
Geçtiğimiz hafta ekonomide iki kritik veri açıklandı, ekonomik büyüme ve işsizlik. Sonuçlar toplum için kötü, ekonomi yönetimi için iyi: Büyüme yavaşlıyor ve...
www.evrensel.net
June 1, 2025 at 3:27 PM
Excellent overview of the economic situation in Turkey. If it's worsening now, which coincides with an acceleration of repression against the CHP, in the medium term, it could be to the government's advantage -with interest rates falling and the inflation target met.
www.evrensel.net/yazi/97039/m...
www.evrensel.net/yazi/97039/m...
My take on why Türkiye’s opposition must consolidate its position now:
Time Is Running Out for Türkiye’s Opposition
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Time Is Running Out for Türkiye’s Opposition
For Türkiye’s opposition, time is the one resource running out fastest.
open.substack.com
June 1, 2025 at 8:45 AM
My take on why Türkiye’s opposition must consolidate its position now:
Time Is Running Out for Türkiye’s Opposition
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Time Is Running Out for Türkiye’s Opposition
For Türkiye’s opposition, time is the one resource running out fastest.
open.substack.com
May 31, 2025 at 11:15 PM
Time Is Running Out for Türkiye’s Opposition
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
A brief update on Turkey:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
The Unintended Consequence of March 19 in Türkiye: A Window to Tame Inflation?
Once again, Türkiye’s ruling bloc has managed to turn crisis into control—this time, by using political turmoil to justify economic orthodoxy.
open.substack.com
May 17, 2025 at 6:16 AM
A brief update on Turkey:
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
From the Plaza Accord to Trade Wars: The 'Coercion' No Longer Backed by 'Consent'
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
From the Plaza Accord to Trade Wars: The 'Coercion' No Longer Backed by 'Consent'
How does a global hegemon respond when its dominance begins to erode from within?
open.substack.com
April 26, 2025 at 10:05 AM
From the Plaza Accord to Trade Wars: The 'Coercion' No Longer Backed by 'Consent'
open.substack.com/pub/umitak/p...
open.substack.com/pub/umitak/p...
Trump and the Fed:
substack.com/profile/8694...
substack.com/profile/8694...
Umit Akcay on Substack
Trump, the Fed, and the Power Bloc
As Poulantzas reminds us, “the state is not a thing, but a relation—an institutional material condensation of a relationship of forces among classes.” Central bank ...
substack.com
April 21, 2025 at 6:45 PM
Trump and the Fed:
substack.com/profile/8694...
substack.com/profile/8694...
Reposted by Umit Akcay
What happens when the empire that runs the global economy wants to become a developmental state? my brief comments are here: open.substack.com/pub/umitak/p...
Reindustrialize America? Then Undermine the Dollar
What happens when the empire that runs the global economy wants to become a developmental state?
open.substack.com
April 18, 2025 at 8:11 AM
What happens when the empire that runs the global economy wants to become a developmental state? my brief comments are here: open.substack.com/pub/umitak/p...