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Umit Akcay

@umitak.bsky.social

6.3K followers 1.2K following 76 posts

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

You can now subscribe to my Substack blog!
I'll be sharing brief posts on current international political economy, offering a critical political economy viewpoint:
umitak.substack.com

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

Reposted by Umit Akcay

Umit Akcay @umitak.bsky.social · 6d

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...

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

Reposted by Umit Akcay

Ali Rıza Güngen @argungen.bsky.social · 6d

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."

Umit Akcay @umitak.bsky.social · 6d

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...

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

Umit Akcay @umitak.bsky.social · 6d

Thanks for sharing.

Reposted by Umit Akcay

Barbora Cernusakova @bcernusa.bsky.social · 6d

"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."

Umit Akcay @umitak.bsky.social · 6d

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...

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

Umit Akcay @umitak.bsky.social · 6d

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...

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

Umit Akcay @umitak.bsky.social · Aug 20

My brief notes on the Turkey’s peace process with Kurds:

Umit Akcay @umitak.bsky.social · Aug 19

Turkey's Peace Process with Kurds: Are We at a Turning Point?
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

Umit Akcay @umitak.bsky.social · Aug 19

Turkey's Peace Process with Kurds: Are We at a Turning Point?
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

Reposted by Umit Akcay

Aaron Benanav @abenanav.bsky.social · Jul 3

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...

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

Umit Akcay @umitak.bsky.social · Jul 3

Thank you

Umit Akcay @umitak.bsky.social · Jun 30

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:

Umit Akcay @umitak.bsky.social · Jun 29

open.substack.com/pub/umitak/p...

The Material Foundations of War

Three emerging dynamics in the global economy: slowdown, militarization, and geopolitical tensions

open.substack.com

Umit Akcay @umitak.bsky.social · Jun 29

Doğru, soğuk savaş örneği de harcama artışının savaşla sonuçlanmayabileceğini gösteriyor

Umit Akcay @umitak.bsky.social · Jun 29

open.substack.com/pub/umitak/p...

The Material Foundations of War

Three emerging dynamics in the global economy: slowdown, militarization, and geopolitical tensions

open.substack.com

Umit Akcay @umitak.bsky.social · Jun 8

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...

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

Umit Akcay @umitak.bsky.social · Jun 7

It's actually a civil war within the American capitalist class.

Umit Akcay @umitak.bsky.social · Jun 5

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!

Umit Akcay @umitak.bsky.social · Jun 5

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

Clément Plaisant @cplaisant.bsky.social · Jun 2

English version
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

Reposted by Umit Akcay

Clément Plaisant @cplaisant.bsky.social · Jun 1

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...

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

Umit Akcay @umitak.bsky.social · Jun 1

My take on why Türkiye’s opposition must consolidate its position now:

Umit Akcay @umitak.bsky.social · May 31

Time Is Running Out for Türkiye’s Opposition
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

Umit Akcay @umitak.bsky.social · May 31

Time Is Running Out for Türkiye’s Opposition
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

Umit Akcay @umitak.bsky.social · May 21

Many thanks.

Umit Akcay @umitak.bsky.social · May 21

English version of this piece is available, fyi: 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

Umit Akcay @umitak.bsky.social · May 17

A brief update on Turkey:
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

Umit Akcay @umitak.bsky.social · Apr 26

From the Plaza Accord to Trade Wars: The 'Coercion' No Longer Backed by 'Consent'
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

Umit Akcay @umitak.bsky.social · Apr 21

Trump and the Fed:
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 ...

Reposted by Umit Akcay

Umit Akcay @umitak.bsky.social · Apr 18

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