With the establishment of the Young Turkish Republic, many reforms were implemented in various economic, political, and social areas, the most significant of which to crown these undoubtedly being in the field of education. In this regard, the reform Albert Malche requested under the direct coordination of Mustafa Kemal Atatürk’s efforts were a crucial step for Turkish Higher Education. The period during which the relevant report was prepared coincided with the reign of national socialism in Germany, and the increasing pressure on academicians there under Hitler’s regime accelerated this reform. One of these academicians who came to Türkiye was Fritz Neumark. Born in Hannover, Germany on July 20, 1900, Neumark initially attended Jena University for literature studies but later developed an interest in economics under the influence of Gerhard Kessler and continued his education in economics. The memoir authored by Prof. Dr. Fritz Neumark and titled “Boğaziçine Sığınanlar” recounts in detail the experiences of living in Nazi Germany and the process of migrating to America and Türkiye. Neumark also provided extensive information about the German academicians who’d migrated to Türkiye, including Gerhard Kessler, Alexander Rüstow, Alfred Isaac, and Wilhelm Röpke. Neumark offered insights into the sizes of the refugee families migrating to Türkiye, categorizing those accompanied by at least three family members, as well as the assistants, artists, and other refugees academicians brought with them. Highlighting approximately 70 academicians to have migrated, Neumark emphasized the variability in their numbers due to factors such as deaths and emigration to other countries, underscoring academicians as the most fluctuating group among migrants.

The presence of sufficient numbers of Turkish professors alongside the academicians from Germany posed no obstacle to establishing a new faculty. In this regard, the Minister of National Education requested a report to be prepared outlining the reasons for establishing an independent faculty. Prof. Dr. Fritz Neumark, serving as the Director of the Institute of Economics and Sociology attached to the Faculty of Law at Istanbul University, was tasked with preparing the report.

In the report, Neumark proposed the establishment of various chairs, including three chairs of economics to be led by himself, Hüseyin Şükrü Baban, and Wilhelm Röpke; a chair of statistics to be led by Ömer Celal Sarc and İbrahim Fazıl Pelin; a chair of finance; a chair of social policy to be led by Gerhard Kessler; and a chair of economic history to be led by Alexander Rüstow, thus completing the organizational structure of the proposed faculty.

In 1946, Neumark was appointed as the Director of the Chair of Finance (then the Finance Institute), but he left the position in 1950 due to an assignment by the Ministry of Finance. During his tenure at the Ministry of Finance, he contributed as an advisor to the reform of the Turkish tax system.

Despite attempts to assign Neumark to teach courses in social health and statistics before economics and finance at the Institute, he declined the offer. Although assured that he would teach at the Institute, he resisted this decision, and his position was eventually assigned to the Faculty of Law due to the shortage of academic staff at the time. However, Neumark taught statistics for a maximum of two terms before it was taken over by Ömer Celal Sarc. Throughout his time in Istanbul, Neumark praised the academic work and positions held by his colleagues Ömer Celal Sarc, Ziyaeddin Fahri Fındıkoğlu, and Ömer Lütfi Barkan.

Neumark made observations regarding the economic history of both Germany and Türkiye during his tenure. He witnessed the hyperinflation period in Germany, which began in 1919 and escalated between 1922-1923. By November 1923, $1 USD was equivalent to 4.2 trillion German marks, highlighting the need to implement strict monetary policies. Upon arriving in Türkiye, Neumark pushed for the Republic of Türkiye to pursue classical liberal policies and implement a tight fiscal policy that ensured budget equilibrium. Until the outbreak of the World War II in 1939, no inflationary development had occurred in the country. Despite not entering the war, Türkiye experienced the deep economic problems brought about by the war, and Neumark criticized some of the economic policy measures implemented during this period.

He also highlighted the liberal policies of the Adnan Menderes Government, which came to power after winning the 1950 elections following the Republican People’s Party. Neumark noted an increase in freedom regarding commercial and economic activities under this government.

Fritz Neumark’s works includes significant bibliographical studies, with a particular emphasis on the works of German academicians. Despite being in Türkiye, Neumark’s attention to the works of his colleagues demonstrates his noteworthy interest in their publications. Neumark’s writings on the works of German academicians paved the way for the translation of these writings into Turkish by Prof. Dr. Sabri Ülgener and Ord. Prof. Dr. Celal Sarc. These translation efforts opened doors for Turkish academicians to access international sources.

Prof. Dr. Fritz Neumark conducted bibliographical studies on various works, including one focusing on the New Deal, the economic and fiscal policies enacted by Franklin D. Roosevelt while serving as President of the United States from 1933-1945. In 1940, Neumark conducted a study on the work of the German economist Othard Schulze concerning the New Deal. Among Neumark’s bibliographical works, his study on banking titled “Türkiye’de Son Bankacılık Literatürüne Umumi Bir Bakış” (Neumark, 1939) holds significant importance. This comprehensive study covered the banking activities of the young Republic of Türkiye from 1923-1938. Neumark provided extensive information about Dr. Ahmed Halid İteber’s book “Türk Bankacılığı”, highlighting its coverage of general banking history and the developments regarding Türkiye’s economic policy. Neumark emphasized the significance of İteber’s work, which extensively covered the newly established Central Bank, Ziraat Bank, İş Bank, Sümer Bank, Eti Bank, Selanik Banks, and German banks’ branches in Türkiye, as well as Ottoman banks. Additionally, Neumark examined Dr. Yusuf Saim’s publication “Türkiye Cumhuriyeti Ziraat Bankası 1888-1839”, praising its detailed information on Ziraat Bank’s establishment, capital, and loans. He considered it one of the most important works in banking literature (Neumark,1939). Neumark also provided insights into Sait Emin Özbek’s doctoral dissertation “Bank et l’industrialisation de la Turquie sous la Republique” and Orhan Conker’s book Redressement économique et Industrialisation de la Nouvelle Turquie , focusing on Sümerbank. Furthermore, Neumark critiqued Erich Welter’s (1943) book Der Weg der deutschen Industrie, which discussed German industry. Neumark also evaluated W. A. Jöhr’s “Die Beurtellung Konkreter wirtschaftspolitischer Probleme” [ Ekonomi Politikasına Ait Müşahhas Problemler Hakkında Hükmü Meselesi] and Hans Luckas’ “Theorie der Devisenzwangswirtscaft auf Grund der deutschen und auslandischen Erfahrungen in der Zeit von 1914 bis 1940”, providing detailed analyses of these works. 

Fritz Neumark not only conducted bibliographical studies on German economists but also undertook works focused on the writings of Turkish finance scholars. One such study pertains to the work “Hizmet Erbabı Vergileri ve Tatbikatı” that was authored by Nihat Ali Üçüncü, who served as the Director General of Revenue Administration at the Ministry of Finance during that period.

Upon examining Fritz Neumark’s life and works, the fact that he did not separate economics from finance becomes evident. He provided a holistic perspective on both economic thought and policy instruments. In his work titled “İktisadi Gelişme İktisadi İstikrar ve Maliye Politikası”, which was translated into Turkish by Dr. Salih Turan from Frankfurt University, Neumark primarily focused on the concept of economic development. To say that Neumark had a national character with a significant portion of his articles centered around German economic development and stability wouldn’t be incorrect. In particular, he detailed the steps Germany had taken to revive its economy after World War II and the outcomes of these measures, providing insights into the economic circumstances of that era.

Having experienced the aftermath of World War I in two defeated countries, Fritz Neumark authored a comprehensive work titled “Harp Ekonomisinin Esas Meseleleri ve İstatistiğin Ekonomik Seferberlik Planında Ehemmiyet”. He started by elucidating the differences between war economy and economic warfare, emphasizing how these two concepts had gained prominence particularly during World War I. Professor Ömer Celal Sarc penned a bibliographical article regarding the book Ekonomi Siyasasının Yeni İdeoloji’leri, which Professor Fritz Neumark had authored. According to Sarc, Neumark’s book delved into the economic policies of the new era leading up to World War II in detail. Neumark’s (1940) book “Maliye İlmine Dair Ekonomik ve Sosyolojik Tetkikler held significant relevance within the Turkish higher education system at the time. In 1945, Neumark expanded and reissued his book "Gelir Vergileri" due to the introduction of a new income tax bill in parliament in 1946. Another notable work is Neumark’s (1938) “Maliye Siyasetinin Milli Hususiyetleri”, which was translated into Turkish by Sabri Ülgener. This work explored the ways of benefiting from the fiscal policy practices established in different countries. Moreover, Neumark authored a book titled Ekonomi Politikası Dersleri for students studying at the newly established economics faculties and other higher educational institutions across Türkiye. His proficiency in economics was further evidenced by his seminal work “Genel Ekonomi Teorisi”, which remains widely accepted today. This book begins with the fundamentals of economics, elucidating the conceptual relationship between economic theory and economic life. In “Maliyeye Dair Tetkikler” Neumark expounded on his views regarding the methods of public finance, asserting that fiscal science, like economics, begins with physiocracy.

Prof. Dr. Fritz Neumark’s writings on the topic of foreign trade in the field of Turkish economy between 1938-1940 provide interdisciplinary insights. Neumark meticulously presented Türkiye’s foreign trade data for 1938, including export revenues, import expenditures, and the balance of payments, while also providing detailed information on exported and imported goods. Following the developments in foreign trade in 1938, Neumark penned an article about the foreign trade relations for the years 1939 and 1940. In this article, he discussed the price index study conducted by the Ministry of Economics, which resembles price evaluations associated with inflation.