capitalism and socialism. Liberalization and planned growth, 1931–1939 The first (1929–1933) and second five-year economic plans were enacted under the supervision of Atatürk. The first five-year economic plan promoted consumer substitution industries. However, these economic plans changed drastically with the death of Atatürk and the rise of World War II. Subsequent governments took measures that harmed the economic productivity of Turkey in various ways. The achievements of the 1930s were credited to early 1920s implementations of the economic system based on Atatürk's national policies. In 1931, Atatürk watched the development of the first national aircraft, MMV-1. He realised the important role of aviation and stated, "the future lies in the skies". The Turkish Aeronautical Association was founded on 16 February 1925 by his directive. He also ordered the establishment of the Turkish Aircraft Association Lottery. Instead of the traditional raffle prizes, this new lottery paid money prizes. Most of the lottery income was used to establish a new factory and fund aviation projects. However, Atatürk did not live to see the flight of the first Turkish military aircraft built at that factory. Operational American Curtiss Hawk fighters were being produced in Turkey soon after his death and before the onset of World War II. In 1932, liberal economist Celâl Bayar became the Minister of Economy at Atatürk's request and served until 1937. During this period, the country moved toward a mixed economy with its first private initiatives. Textile, sugar, paper, and steel factories (financed by a loan from Britain) were the private sectors of the period. Besides these businesses, government-owned power plants, banks, and insurance companies were established. In 1935, the first Turkish cotton print factory "Nazilli Calico print factory" opened. As part of the industrialization process, cotton planting was promoted to furnish raw material for future factory settlements. By 1935, Nazilli became a major industrial center beginning with the establishment of cotton mills followed by a calico print factory. In 1936, Turkish industrialist Nuri Demirağ established the first Turkish aircraft factory in the Beşiktaş district of Istanbul. The first Turkish airplanes, Nu D.36 and Nu D.38, were produced in this factory. On 25 October 1937, Atatürk appointed Celâl Bayar as the prime minister of the 9th government. Integrated economic policies reached their peak with the signing of the 1939 Treaty with Britain and France. The treaty signaled a turning point in Turkish history since it was the first step