Islam and economics in the political sphere: a critical evaluation of the AKP era in Turkey

ABSTRACT

Since Weber’s articulate conceptualisation of the nexus between religion and economics, these phenomena have been examined through various academic viewpoints. While some take religion as a determining factor of economic performance, others argue that it is the economy that influences religiosity. This paper focuses on the manifestation of religion and economics in the political sphere regarding the case of Turkey’s Justice and Development Party (AKP). After discussing the literature on the relations between religion and economics, it scrutinises the AKP period, considering three specific pillars: (a) the early years of the AKP in which Western economic policies were implemented as a continuation of the Kemal Dervi? period; (b) between 2008 and 2015, when the idea ‘we can do as well’ maintained the centre stage; and (c) 2015 and onwards, when the Islamist influence on economic policy became highly apparent, particularly regarding interest rates. This study argues that the AKP changed politically in terms of Islamic influence upon the economic sphere, however this remains at the discursive level for the time being.