WHO GROWN HOW?
CAPITAL INCREASED, LABOR SHRED!
- Turkey is growing, but the workers, who are the real productive power, cannot get their share from the growth!
- While the share of labor was 39.1 percent in the first quarter of 2020, it decreased to 31.5 percent in the first quarter of 2022.
- Capital share increased from 41.7 percent to 47.6 percent between 2020-2022.
- In the first quarter of 2022, capital incomes increased by 88 percent at current prices, while labor income increased by 59.7 percent.
- Capital grew faster than medium growth, while labor remained well below average growth.
- Capital incomes increased twice as much as labor in 2 years.
- Within 2 years, the share of labor in the cake decreased by around 20 percent.
- Covid-19, high inflation and the economic crisis have worsened distribution relations.
TurkStat announced the results of “Periodic Gross Domestic Product (GDP) 1st Quarter January-March 2022” on May 31, 2022.
According to TURKSTAT, GDP, adjusted for inflation, increased by 7.3 percent compared to the same quarter of the previous year, according to the first quarter estimate of 2022 as a chained volume index. While the share of labor in GDP fell to 31.5 percent, the share of capital increased to 47.6 percent.
Gross domestic product (in current prices using the income method) increased by 79.5 percent in the 1st quarter of 2022 (January-March, 2022) compared to the same period of the previous year (not adjusted for inflation). In the same period, while labor payments increased by 59.7 percent, net operating surplus increased by 88 percent.
When we accept 2020 as 100, GDP (in current prices) increased from 100 to 232, while labor income increased from 100 to 184. Thus, total labor incomes increased by 84.1 percent in monetary terms in two years. In the same period, capital income increased from 100 to 261, increasing by 161 percent. Capital incomes increased in monetary terms twice as much as labor.
In a row in 2021 and 2022, capital income increased well above average GDP growth, while labor income remained well below average GDP growth. This situation worsened the class distribution of income.
On the other hand, it is possible to say that the Covid-19 epidemic worsened distribution relations. The share of labor and capital in GDP has been showing a tendency to open up since 2020.
To access the research bulletin in PDF format: http://arastirma.disk.org.tr/?p=8793