Economic interest is a term, a category used in economics , finance [1] [2] to denote incentives for the activities of subjects of economic relations , determining their behavior [3] . The incentives for the activities of economic entities are the increase in value or income as a result of financial transactions [4] , as well as other participation in economic activities [5] [6] . In the process of economic activity, people interact with each other, guided by their interests. Their interests represent a complex system that affects, in essence, all relations in society.
Initially, interest as a commercial and legal term arose in the Middle Ages and meant redress [7] .
According to the vocabulary of Brockhaus and Efron, edition of 1898 [8] , "Interest refers to the benefit or benefit of an individual or a known population of individuals, which is opposed to the benefit and benefit of others." Thus, the word "interest" at the end of the XIX century. indicated the benefits to the lender and the cost of using cash for the borrower .
Content
Use of the term “interest” in economic research and economic theory
"Interest" in various economic theories
The provision on the decisive role of interest (namely, as economic) among the motives of human activity was first put forward by the French materialists of the 18th century and representatives of the English classical political economy [9] .
According to Adam Smith , people are driven by their own interests:
Not from the benevolence of a butcher, brewer or baker we expect to get our dinner, but from their observance of their own interests. We do not appeal to their humanity, but to their egoism, and we do not tell them at all about our needs, but about their benefits [10] .
Representatives of the Marxist theory of political economy also used the category of “economic interest” to explain the motivation of people under capitalism .
The economic relations of each given society are manifested primarily as interests [11] .
In modern economic theory, the concept of economic interest is also widely used, associated with the concepts of "profit", "choice", "maximalism", "rationality". The main points are as follows: people, as a rule, perform those actions that, in their opinion, should bring them the greatest benefit. Participants in a market economy are already counting on “net” benefits, that is, benefits that exceed the costs of achieving it ( profit , net income , net present value , interest income , etc.) [3]
The pursuit of one’s own benefit is the inalienable right of any subject of a market economy [12] .
A market economy can be defined as a continuous process of the joint achievement by its subjects of individual and socially pure benefits [13] .
The versatility and depth of the categories of “interest” and “economic interest” determine the attention paid to them in modern economic research [14] .
The concept of “interest” in stakeholder theory
The concept of “interest” is widely used in stakeholder theory . The theory of stakeholders focuses on the conflict of financial interests of stakeholders and the optimization of these interests [15] . The conflict arises due to the fact that different types of stakeholders have different interests. For example, among the shareholders of a company, the main financial interest is to increase the value of the company . Management ( managers , company managers) has the main financial interest in - increasing the level of wages.
Interest in Economics and Labor Sociology
From the point of view of researchers in economics and sociology of labor, economic interest is an interest in monetary and material-material means of satisfying needs [16] .
Manifestations of economic interest in the system of economic relations
In the system of economic relations there is a wide variety of economic interests [3] . Each interest has its carrier - the subject . For subjects, economic interests can be individual (personal, private), group (collective), public, and ultimately universal. The last two reflect national, state, class, etc. interests. It is possible to classify economic interests on other grounds (criteria). For example, on a temporary basis, current and promising can be distinguished [3] .
Note
- ↑ Economic interest (inaccessible link) . The economic dictionary. Date of treatment August 13, 2010. Archived October 22, 2010.
- ↑ Interest as an economic category . Date of treatment August 23, 2010. Archived April 4, 2012.
- ↑ 1 2 3 4 Economic interests and the economic mechanism (inaccessible link - history ) . About Forex. Date of treatment August 23, 2010.
- ↑ The role of interests in the economy (inaccessible link - history ) . About Forex. Date of treatment August 13, 2010.
- ↑ Interest (inaccessible link) . Dictionary of Russian synonyms (online version). Date of treatment August 13, 2010. Archived January 14, 2012.
- ↑ Interest // Explanatory Dictionary of the Living Great Russian Language : in 4 volumes / auth. V.I. Dahl . - 2nd ed. - SPb. : Printing house of M.O. Wolf , 1880-1882.
- ↑ See article Interest
- ↑ Interest // Brockhaus and Efron Encyclopedic Dictionary : in 86 volumes (82 volumes and 4 additional). - SPb. , 1890-1907.
- ↑ Economic interests - article from the Great Soviet Encyclopedia .
- ↑ Adam Smith. Studies on the nature and causes of the wealth of nations = An Inquiry into the Nature and Causes of the Wealth of Nations. - M .: OGIZ, 1935. - T. 1. - S. 17.
- ↑ Marx K. and Engels F. Compositions. - 2nd edition. - M. - T. 18. - S. 271.
- ↑ McConnell C., Bru S. Economics. - M .: Republic, 1992. - T. 1. - S. 40.
- ↑ Samuelson P. Economics. - M .: Algon, 1998 .-- T. 1. - P. 30.
- ↑ Theses on research on the category of “economic interest” (inaccessible link from 05-24-2013 [2254 days])
- ↑ Sanin V.V. Balance and conflict of interests of stakeholders in the strategic and business plans of the company (Russian) // Corporate Finance: Journal. - 2009. - No. 2 (10) . - S. 112-132 .
- ↑ Adamchuk V.V., Romashov O.V., Sorokina M.E. Needs and interests as determinants of labor behavior // Economics and Sociology of Labor: Textbook for universities . - M .: UNITY, 1999 .-- 407 p.
See also
- Property interest (insurance)
Literature
- Modern interpretations of the essence of economic interests
- Economic interests / Abalkin L.I. // Great Soviet Encyclopedia : [in 66 vol.] / Ch. ed. O. Yu. Schmidt . - 1st ed. - M .: Soviet Encyclopedia , 1926-1947.
- The nature of loan interest
- Gotskaya N. R. Dynamism of the system of economic interests and structural changes in the economy (rus.) // Abstract of dissertation for the degree of candidate of economic sciences. - 2006.
- Osaulenko I. V. Trends in structural changes in the system of economic interests of an enterprise (Rus.) // Abstract of dissertation for the degree of candidate of economic sciences. - 2002.
- Vishnevsky D. D. Evolution of the system of economic interests in property relations (Rus.) // Abstract of dissertation for the degree of candidate of economic sciences. - 2004.
- Konovalova Alla Vasilievna. Interaction of economic interests of subjects of globalization: Dis. ... cand. econ. Sciences: 08.00.01: Saratov, 2003.163 c. RSL OD, 61: 04-8 / 357-6
- Karapetyan S.T. Theory of economic interest as a system-integral alternative to neoclassicism and institutionalism. // Microeconomics, No. 3, 2017.S. 60-69.