Role of Türkiye İş Bankası in the formation of the dominant capital in the Republic Period: 1924–1938

This study aims to analyse Đş Bank and its affiliates within the framework of capital as power theory which is based upon Veblen's business world and industry distinction. Activities of the bank in 1924 – 1938 period have frequently been reviewed in literature in conjunction with industrialisation, development or capital accumulation. However, Đş Bank has never been analysed within a theoretical frame which accepts capital as power until today. In this respect, capitalisation, sabotage and differential accumulation concepts related to business world were used in order to be able to explain the activities of Đş Bankası. Accordingly, the mission of the bank is found out as merely revaluation of financial assets but not industrialisation, development or capital accumulation. Basic algorithm that Đş Bankası uses both in its affiliations and banking activities is capitalisation. What enables capitalisation is differential accumulation mechanism which operates based on sabotage. Institutions of Republic, even the transformation of the Ottoman is shaped according to the operation of this algorithm. What is more, Đş Bankası, the subject matter of this study, takes an active part in the advancement of the process. This role has been identified with the bank in the formation of dominant capital and in the construction of all social structure as it was rooted in the centre of location in capitalisation phase. Key Words: Industrialisation, Development, Business World, Capital as Power, Sabotage, Capitalisation, Differential Accumulation, Dominant Capital.