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(Atatürk and Kazım Özalp)

The establishment of The Turkish Economic Association goes back to the 1920s. On the suggestion of Atatürk, The National Economy and Savings Society was established on December 12, 1929. Among the founders of the Society, there were statesmen and politicians of that period such as Kazım Özalp, Hasan Saka, Celal Bayar, Saffet Arıkan, Fuat Omay, Rahmi Köken, Hakkı S.Tarı, Mahmut Soydan and Yusuf K.Tengirşek. The founding President of the Society was Kazım Özalp, who served successfully for 20 years.(*)

The purpose of the Society was to minimize the devastating impacts of the 1929 Depression, on the one hand by encouraging savings in the struggle against extravagance, on the other hand by promoting the domestic markets to use products made in Turkey. On June 12, 1939, the name of the Society was changed as The National Association of Economy and Savings.

The Turkish Economic Society was established in İstanbul in 1931 and moved its headquarters to Ankara in 1939. The National Association of Economics and Savings and The Turkish Economic Society were merged under the auspices of the Turkish Economic Association on January 18, 1955.

The Turkish Economic Association transferred its assets to the Foundation of the Turkish Economic Association by an act dated December 12, 1973. This Foundation provides financial support for the activities of the Association.

In order to instill awareness and knowledge of economics in Turkey, The Turkish Economic Association has been producing economics publications; organizing seminars, symposiums and conferences; providing scholarships to outstanding economics students and giving awards to young economists with successful theses on the Turkish economy.

The Turkish Economic Association carries out its activities in Ankara and at present has no branches. The Association is loyal to the “Principles of Atatürk” and is a member of the International Economic Association.

(*) Kazım Özalp was born in Köprülü, Macedonia in 1882. After he graduated from the Military Academy and the Academy of General Staff, he served in several battles in different areas during World War I. Balikesir was one of the areas where he organized the National Forces. He became a member of the Grand National Assembly in 1920, representing the province of Balıkesir. He worked as Minister of Defense in the government of Fevzi Çakmak. He was elected President of the Grand National Assembly in 1924. He retired from the army a year after he received the title of ‘General’ in 1926. Kazım Özalp served as the President of the Grand National Assembly from 1924 to 1935 and was appointed National Defense Minister between 1935 and 1939. Özalp retired from politics in 1954 and died on June 6, 1968