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LegitimacyLegal but Not Legitimate: The Changing Practices of Financial Citizenship in Turkey

Legitimacy: Legal but Not Legitimate: The Changing Practices of Financial Citizenship in Turkey [Atalay examines the conflict between legitimacy and legality, focusing on the ethnography study of actors and institutions in the financial field in Turkey. ‘Predatory acts’ by the banks are made legal through state’s regulations but are seen as illegitimate by ordinary citizens. First, she discusses the relationship between legality and legitimacy in the context of financialization. Then, she examines the financialization process in Turkey with reference to actors and state, followed by a summary of her ethnography on the financial citizenship practices. Atalay’s ethnography questions why financialization erodes legitimacy. Power relations between banks and the state became more visible. Inclusion and exclusion mechanisms have tightened. Also, the legislation itself created the crisis and increased the distance between citizens and the state.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

LegitimacyLegal but Not Legitimate: The Changing Practices of Financial Citizenship in Turkey

Editors: Pardo, Italo; Prato, Giuliana B.
Legitimacy — Oct 18, 2018

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References (18)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2019
ISBN
978-3-319-96237-5
Pages
105 –123
DOI
10.1007/978-3-319-96238-2_5
Publisher site
See Chapter on Publisher Site

Abstract

[Atalay examines the conflict between legitimacy and legality, focusing on the ethnography study of actors and institutions in the financial field in Turkey. ‘Predatory acts’ by the banks are made legal through state’s regulations but are seen as illegitimate by ordinary citizens. First, she discusses the relationship between legality and legitimacy in the context of financialization. Then, she examines the financialization process in Turkey with reference to actors and state, followed by a summary of her ethnography on the financial citizenship practices. Atalay’s ethnography questions why financialization erodes legitimacy. Power relations between banks and the state became more visible. Inclusion and exclusion mechanisms have tightened. Also, the legislation itself created the crisis and increased the distance between citizens and the state.]

Published: Oct 18, 2018

Keywords: Financial Field; Lapavitsas; Foreign Capital Bank; Credit Card Market; Streeck

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