Process of social reproduction: new look

The paper attempts to examine the process of social reproduction from the standpoint of institutional economics, which is an integral part of modern economic theory, designed to study the laws of the formation, transformation and optimization of all types of transaction costs in the functional transitions between any related processes and operations at different levels of economic management. It is proved that at this stage there was a need for researching the problems of economic development not only from the standpoint of purely market relations, but also for the search of optimal proportions between all forms of ownership within national structures. The indivertible process of sustained economic development requires drawing attention to the containment of transaction costs adequate increase, to the planning for economic growth and to the improvement of functional transitions in the areas of «production – distribution – exchange – consumption».

Keywords: institutional economics, transaction costs, coordination costs, property rights, informal rules.