Indian Journal of Science and Technology

Abstract

Background/Objectives: The functioning of the national economy entities is associated with the emergence of their interest in the economic activity. The main objective is to study the changes and the subsequent characterization of the notion of ‘interest’ in economics. Methods/Statistical Analysis: The process of forming the conceptual apparatus of the category of ‘interest’ lasts throughout all stages of the economic development of society. The fundamental provisions of the economic theory contained in the scientific works of leading domestic and foreign scientists engaged in the development of certain issues of the categorical apparatus of the concept of ‘interest’ were the basis of the study. Findings: While studying the category of ‘interest’ the trends have been identified in the changes of the concept essence related to specific events in the historical development of society. The presented classification of interest types confirms the diversity of the category. In the writings of numerous economists, the interest is considered as an economic phenomenon, on the basis of which it is possible to study the economic relations in the current economic conditions, coupled with a program of import substitution and the crisis situation in the Russian economy. The category is the basis for the development of society and the availability of a wide range of studies confirms the research relevance and importance of the research results to extend the scope of the scientific thought of economic theory in its basic elements. Also the article deals with the relationship of the category of ‘interest’ with other economic categories, such as need, motivation, consistency of their origin and the role in the economic activity of the national economy. The analysis of the existing interpretations of this category enabled to identify its universal character, and to study the structure of the system of interest. Application/Improvements: This article extends the knowledge of economic theory about the category of ‘interest’, organizes the main peculiarities of interest occurrence and functioning, outlines the boundaries of the relationship with other economic elements of the business entities’ activities. 

Keywords: Economic Interest, Interest, National Economy, National Interest, Patterns of the National Economy Development