Özet:

ABSTRACT Purpose - The primary purpose of this article is to criticize Orthodox economics and to mention its methodological shortcomings. Second purpose is to reveal the importance of Heterodox economics and emphasize its methodological advantages. The third goal is to reveal that literary works can be used as an economic tool by both making a literature review and practicing a book analysis. Methodology – In this article, both theoretical and practical methods are used together. Theoretically, Orthodox and Heterodox Economics were compared. Orthodox economics methodology is scrutinized critically. As a practical method, the famous Turkish novel named The Time Regulation Institute (TRI) was examined with an economic perspective and the relevant parts were quoted and interpreted in order to understand the economic life of the period. Findings – In the novel TRI, economic condition and developments of the last years of the Ottoman Empire and the first years of the Republic of Turkey and the reflections on individuals and society detected. Conclusions – In Heterodox economics, both individual and social, situations and behaviors due to the economic events are discussed which are not mentioned in Orthodox economics. Therefore, studies in the field of Heterodox economics should be considered as complementary studies and the necessary attention should be paid

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