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Ekonomik Yaklasim. 2012; 23(83): 37-68

GROWTH? GROWTH OF WHAT? A Critical Assesment of Economic Growth

Mustafa DURMUŞ.

Growth data on the first half of 2012 of the Turkish economy disclosed in September prompted a different evaluation from an alternative critical approach since the economic growth rate has been slowed down. In fact, Turkish economy is in the process of contraction now. However, beyond the quantitative evaluations, it is necessary to evaluate the meaning of economic growth qualitatively. In this study this aim is tried to be accomplished. Economic growth is a fetish nowadays. Also is an illusion. In reality it is merely the growth of the capital and wealth. Furthermore existing capitalist growth is unable to create more and secured jobs and increases the existing income and wealth inequality and economic injustice. Finally it causes devastating effects on the ecological system of the planet.

Key words: Growth, development, income distribution, growth without employment, surplus value-value added.

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