Financialisation of Capitalism: Expansion of Indebtness from Global Level to Household Level in Turkey

Yıl 2014, Cilt: 12 Sayı: 24, 101 - 129, 01.08.2014

Erdal Eroğlu

Öz

One of the most notable features of today’s capitalist economies is that
they impoverish a great majority of societies while growing. In other
words, this is a kind of capital accumulation model dependent on increasing income and wealth inequality on one hand and keeping wages low
on the other hand. Such a model can be sustainable only with borrowing.
It is an undeniable fact that lending-borrowing relation is one of the
most significant leverages of capital accumulation. It seems that lending-borrowing relation deepening and expanding not only from global
to national level but also from national level to households has become
the center of the social life. This study will focus both on the financial capital accumulation process that started to rise in the early 21st century
in Turkey and on indebtedness of households.

Anahtar Kelimeler

Financialization, Economic Crises

Kaynakça

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