The potential of domestic work and family economy in Russia

Abstract

The article examines such economic categories as «home production», «household», decision–making and the effects of income and substitution.The household is a source of labor for the labor market, a source of income in the market of finished products, a source of savings in the financial market.Decisions on the redistribution of time between labor and leisure or labor in home production, on the share that can be spent on consumption and how to keep free money are made within the household within the budget limit. The author considered the factors influencing the decisions made.The author presents potential opportunities for increasing the use of household resources in active economic activity, substantiated the relevance of the research topic not only from an economic but also from a social point of view.Mainly, women are considered as a source of increased labor force, who, instead of performing family and educational functions, can enter the labor market, but many social risks of assigning part of family functions to public institutions are not taken into account in economic calculations. Studies comparing the explicit and implicit costs of women’s transition from family production to market production are of scientific interest.