The Ottoman Empire went through rapid economic and social development in the late nineteenth and early twentieth centuries, as it approached its end. Profound changes took place in its European territories, particularly and prominently in Macedonia. In the decades before the First World War, industrial capitalism began to emerge in Ottoman Macedonia and its impact was felt across society.
The port city of Salonica was at the epicentre of this transformation, led by its Jewish community. But the most remarkable site of development was found deep in provincial Macedonia, where industrial capitalism sprang from domestic sources in spite of unfavourable conditions. Ottoman Greek traders and industrialists from the region of Mount Vermion helped shape the economic trajectory of 'Turkey in Europe', and competed successfully against Jewish capitalists from Salonica.
The story of Ottoman Macedonian capitalism was nearly forgotten in the century that followed the demise of the Empire. This book pieces it together by unearthing Ottoman archival materials combined with Greek sources and field research. It offers a fresh perspective on late Ottoman economic history and will be an invaluable resource for scholars of Ottoman, Greek and Turkish history.

Published in Association with the British Institute at Ankara

Costas Lapavitsas is Professor of Economics at SOAS, University of London, UK. He has worked at SOAS since 1991, and his main area of specialization is political economy of money and finance. He has published dozens of books and articles in several languages. He also writes frequently for the international press. His most recent books are Profiting Without Producing (2013), Marxist Monetary Theory (2016), and The Left Case Against the EU (2018).
Pinar Cakiroglu is a postdoctoral researcher at the University of Crete, Greece. She received her PhD in Economics in 2015 from SOAS, University of London, UK. Her main area of research is the political economy and economic history of the Ottoman Empire, Turkey and Greece.