In-kind forms of social support in the history of economic thought

Abstract

Subject. The article addresses economic and social relations providing mechanisms for the formation of in-kind social support in the history of economic thought. Objectives. The purpose is to analyze various economic schools that theoretically underpin the stimulation of final consumer demand and prerequisites for the formation of in-kind forms of social support. Methods. With the help of methodological pluralism, we provide theoretical underpinning for determining the in-kind forms of social support in economics. Results. We reviewed the Keynesian and monetary approaches. The examination of problems of the Keynesian synthesis demonstrated that in-kind benefits in the social support system go beyond the scope of the study of these schools, manifesting themselves during the fiasco of the market. Austrian economics, using the theory of intertemporal market inconsistency due to unnatural design of the monetary institution, justified conditions for the formation of in-kind forms of social support. Conclusions. In-kind forms of social support are used not only as a State policy tool. They are also actively involved in market processes during market failures and in final demand stimulation. The introduction of technologies for the application of such forms between market participants enables to improve and develop economic relations, enrich theoretical base of scholarly studies.