Private indebtedness in Turkey after the 2001 financial crisis :|an inquiry on class and inequality

Abstract

The meaning of debt augmentation is clarified in the formation of the distinction between different classes or of different socio-economic levels and these different dispositions proliferate a vague world of meaning for the universal meaning and definition of the debt. The difference in meaning here will be handled over the private debts in this study. The proliferation and domination of the new form of capitalism, the financialization as a world sphere phenomenon has brought unprecedented economic inequalities and a very serious indebtedness trend. The aim of this study can be defined as a modest introduction to relationality between class relations, inequality and debt in particular case and context in Turkey. First, this study aims to investigate four types of level of income’s new patterns about the debt phenomena via the consequences of the becoming debtor. In this inquiry, I want to briefly explain and argue the problematic issues that what the indebtedness in the this specific comparison by the toolkits of new economic sociology and economic anthropology. Additionally, in particular I want to argue that the function of debt stimulates and strengthens the debt relations for the lower class or low-income groups, on the other hand debt supplies expansion and accumulation for the at the middle and upper class groups end of this process. Briefly stated, debt has a dissimilar function for different income groups or classes. Finally, in this context, I will conduct a discussion on the morality of debt.