Economic underdevelopment has become a problem in many countries, including Turkey. The importance of the "human'' factor, which is at the core of relevant problems in Ottoman-Turkish society, has not been investigated in detail. In this context, this paper has two aims that are closely related to each other. The first, based on the perspectives of Sabri F. Ulgener and Idris Kucukomer, is to identify the reasons behind economic underdevelopment in Ottoman-Turkish society. The second is to understand the importance of the human factor in Turkey's sustainable socio-economic development. This paper emphasizes material and spiritual rationales, which may disable the human factor.