Research Article


DOI :10.26650/ISTJECON2023-1242692   IUP :10.26650/ISTJECON2023-1242692    Full Text (PDF)

The Rise of Household Debt in Global Economy and Türkiye

Murat BirdalSerdar AcunParla Onuk

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

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APA

Birdal, M., Acun, S., & Onuk, P. (2023). The Rise of Household Debt in Global Economy and Türkiye. Istanbul Journal of Economics, 73(2), 697-716. https://doi.org/10.26650/ISTJECON2023-1242692


AMA

Birdal M, Acun S, Onuk P. The Rise of Household Debt in Global Economy and Türkiye. Istanbul Journal of Economics. 2023;73(2):697-716. https://doi.org/10.26650/ISTJECON2023-1242692


ABNT

Birdal, M.; Acun, S.; Onuk, P. The Rise of Household Debt in Global Economy and Türkiye. Istanbul Journal of Economics, [Publisher Location], v. 73, n. 2, p. 697-716, 2023.


Chicago: Author-Date Style

Birdal, Murat, and Serdar Acun and Parla Onuk. 2023. “The Rise of Household Debt in Global Economy and Türkiye.” Istanbul Journal of Economics 73, no. 2: 697-716. https://doi.org/10.26650/ISTJECON2023-1242692


Chicago: Humanities Style

Birdal, Murat, and Serdar Acun and Parla Onuk. The Rise of Household Debt in Global Economy and Türkiye.” Istanbul Journal of Economics 73, no. 2 (Jul. 2024): 697-716. https://doi.org/10.26650/ISTJECON2023-1242692


Harvard: Australian Style

Birdal, M & Acun, S & Onuk, P 2023, 'The Rise of Household Debt in Global Economy and Türkiye', Istanbul Journal of Economics, vol. 73, no. 2, pp. 697-716, viewed 24 Jul. 2024, https://doi.org/10.26650/ISTJECON2023-1242692


Harvard: Author-Date Style

Birdal, M. and Acun, S. and Onuk, P. (2023) ‘The Rise of Household Debt in Global Economy and Türkiye’, Istanbul Journal of Economics, 73(2), pp. 697-716. https://doi.org/10.26650/ISTJECON2023-1242692 (24 Jul. 2024).


MLA

Birdal, Murat, and Serdar Acun and Parla Onuk. The Rise of Household Debt in Global Economy and Türkiye.” Istanbul Journal of Economics, vol. 73, no. 2, 2023, pp. 697-716. [Database Container], https://doi.org/10.26650/ISTJECON2023-1242692


Vancouver

Birdal M, Acun S, Onuk P. The Rise of Household Debt in Global Economy and Türkiye. Istanbul Journal of Economics [Internet]. 24 Jul. 2024 [cited 24 Jul. 2024];73(2):697-716. Available from: https://doi.org/10.26650/ISTJECON2023-1242692 doi: 10.26650/ISTJECON2023-1242692


ISNAD

Birdal, Murat - Acun, Serdar - Onuk, Parla. The Rise of Household Debt in Global Economy and Türkiye”. Istanbul Journal of Economics 73/2 (Jul. 2024): 697-716. https://doi.org/10.26650/ISTJECON2023-1242692



TIMELINE


Submitted26.01.2023
Accepted25.10.2023
Published Online30.12.2023

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