The Turkish-Islamic Bourgeoisie: Origins and Consequences

Turkey had integrated into the globalization process through the implementation of neoliberal economic policies under the rule of Turgut Ozal in the 1980s. This economic liberalization gradually led to fundamental changes in the social and economic structure of Turkey. As a result of the liberalization of the Turkish economy, an Islamic bourgeoisie class emerged in Turkey by taking advantage of the opportunities of financial liberalization. The emergence and development of the Islamic capital has had unintended political, social, and cultural impact on Turkish society. Turkey has experienced an Islamization of Turkish society in the recent years. While Islamic groups are the locomotives of Islamization in Turkey, the Islamic entrepreneurs are the financial source of Islamic groups. The integration of the Islamic bourgeoisie and groups into the global market has led to the transformation of traditional Islamic values and created new Islamic values that embrace neoliberal globalization.