The effect of the Paradox of thrift on modern Russia and the ways of countering it with social fiscal instruments
Journal: Obshchestvo i ekonomika
Year: 2024

The article explains the essence of the paradox of thrift and the reasons why it currently manifests itself in Russia and in a number of other countries, with an emphasis on the excessive income differentiation and insufficiency of social guarantees to the population, together with the policy of financial authorities aiming at the value increase of the sovereign funds while unemployment is still high. The Classical relationship between savings, investment, and GDP growth is contrasted with the K