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Human Economic Behavior and Social Efficiency

Human Economic Behavior and Social Efficiency

Journal of Economic Regulation, , Vol. 11 (no. 2),

Modern economic reality constantly raises the question of the correct ratio of material and non-material benefits of human decisions, financial and humanitarian components of choice and the possibility of strengthening the latter. These circumstances determined the purpose of the study. It is aimed at studying the relationship between the benchmarks of economic behavior of people and their standard of living, as well as determining relevant recommendations. The principle of methodological individualism is used as the main research approach, and the data from rating agencies and survey results have become a source of information. The work initially carried out a grouping of preferences of an economic person, noted by various economic schools, and on this basis the types of non-material motives of his behavior were identified. It is shown that the strengthening of the role of such guidelines, attention to the social and spiritual well-being of a person is also projected on the priorities of the state, the composition of its socio-economic tasks, the cultural, moral state of society. Which, in the end, affects the increase of social efficiency, which is in a significant degree the ethical category. In turn, such trends, the strengthening of social values have an impact on the implementation of the non-economic needs of the individual, the growth of his well-being, the level of human capital. Significant opportunities for the impact of society on human needs are demonstrated by comparing countries with a holistic and non-holistic culture. Taking these results into account, socially justified landmarks are considered as an influence option, pushing people to a certain model of choice, which at the same time helps to increase social efficiency. It is shown that the instillation of such standards of behavior can occur both through targeted measures of the state, carried out, for example, in line with the new paternalism or improvement of economic institutions, as well as public influence, national traditions, guidelines for self-identification, ethical values. A detailedization of the recommended norms of socially-oriented behavior and the mechanisms for their implementation in everyday life is the subject of further development of this study.

Keywords: economic person; behavior; non-economic demands; standard of living; human capital

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Publisher: Ltd. "Humanitarian perspectives"
Founder: Ltd. "Humanitarian perspectives"
Online ISSN: 2412-6047
ISSN: 2078-5429