Individual’s debt relations as a problem of social and economic psychology

Abstract

Background. The growth of outstanding loans leads to dire consequences for both the state (due to shortfalls in profits) and for the individuals, causing health problems, severe depression and suicidal attempts. Debt relationships are both economic and psychological by their nature. As a psychological relationship, debt relations have not been considered so far, and therefore the purpose of this article is a psychological analysis of debt relations. 

Objective of this article is a psychological analysis of the structure, types, levels and functions of debt relations. 

Results. The article provides the author’s definition of debt relations as a type of psychological relationship that develops as a result of social interaction aimed at solving economic problems related to borrowing, lending and fulfilling debt obligations. The classification of debt relations based on their conative component is presented. Debt relations arising in the “person — person” and “person — organization” interaction are described. The author considers debt relations at different levels (intrapersonal, interpersonal, inter- group and societal) and gives the analysis of their functions. 

Conclusion. Subject-subject debt relations arise when lending or borrowing between participants, where each party has integrity, activity and independence. It means that in the case of subject-subject debt relations, in addition to assessing economic rationality, participants can express their value-semantic and affective assessment of the borrowing situation. In the case of subject-object debt relations, the object (credit organization) evaluates only the economic rationality of the deal. A theoretical model of debt relations with different types of interaction is given.

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