TY  - JOUR
T1  - The Rise of Household Debt in Global Economy and Türkiye
AU  - Acun, Serdar
AU  - Birdal, Murat
AU  - Onuk, Parla
PY  - 2023
DA  - December
DO  - 10.26650/ISTJECON2023-1242692
JF  - İstanbul İktisat Dergisi
PB  - Istanbul University
WT  - DergiPark
SN  - 2602-4152
SP  - 697
EP  - 716
VL  - 73
IS  - 2
LA  - en
AB  - This paper investigates the rise of household debt and its impact on class relations and the sustainability of capitalism. The analysis begins with a historical perspective on the factors contributing to household debt growth, such as declining wages, increasing pressure on organized labor, and the need to maintain consumer demand in the face of declining profit margins. The paper then compares the dynamics of household debt across countries and examines Türkiye’s case in a global context. The findings suggest that unsustainable household debt levels, declining wages, and rising inequality; raise doubts about the long-term sustainability of capitalism as we know it. The paper advocates for rethinking economic policies and practices, prioritizing the well-being and prosperity of the majority.JEL Classification : G51 , E31 , F34
KW  - Household indebtedness
KW  - inflation
KW  - financialization
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UR  - https://doi.org/10.26650/ISTJECON2023-1242692
L1  - https://dergipark.org.tr/en/download/article-file/2918583
ER  -