THE AGREEMENT OF THE GOVERNMENT WITH BUSINESS ON VOLUNTARY FINANCING OF SOCIAL PROJECTS BY EXCESS PROFITS AS A NEW AND PROMISING INSTITUTION OF NON-FINANCIAL ECONOMY

According to many economists, finance is almost the main source of instability in the modern economy, and the impact of the state on it through finance demonstrates inefficiency. At the same time, all sector elements of finance have nonfinancial and, therefore, much less dangerous substitutes for the economy; and the world is in the process of replacing the first with the second. Therefore, Russian state should take purposeful steps to possibly replace the elements of finance with their non-financial counterparts and develop appropriate instruments of impact on the economy. In the spirit of this idea — the steps of the Russian state to introduce the Institute of voluntary financing of priority social projects by business at the expense of super-profits, known as realization of “Belousov’s plan”. The reason for the state’s appeal to this instrument is the inefficiency of financial methods for solving the corresponding problem. Finance does not encourage corporations to finance projects, even those of interest to themselves, in the event that they are left with excess profits. Finance does not provide for the withdrawal of super-profits from corporations in case of refusal of appropriate financing of social projects – there is no automatic system for the withdrawal of super-profits, and the traditional tax system does not have the necessary flexibility to withdraw them. Finally, finance does not put obstacles to the withdrawal of super-profits from the country. The agreement on voluntary financing of social projects by business at the expense of super-profits is not just an effective non-financial way to solve a whole range of problems of the Russian economy, but also corresponds to Russian economic traditions, which facilitates the introduction of this institution into the Russian economy and its use.

finance, super-income, social projects, quasi-fiscal operations, quasi-fix, voluntary financing, non-financial substitutes, withdrawal of super-income, nonfinancial economy, economy without finance.

Lebedev K. N. The agreement of the government with business on voluntary financing of social projects by excess profits as a new and promising institution of non-financial economy // Business. Education. Law. 2019. No. 1 (46). Pp. 69–76. DOI: 10.25683/VOLBI.2019.46.142.