SOCIALIZATION OF THE ECONOMY AS A COMPONENT OF THE ANTHROPOCENE AGE: ECONOMIC AND LEGAL DIMENSION

• Published in: Fìnansovo-kreditna dìâlʹnìstʹ: problemi teorìì̈ ta praktiki (Online) Vol. 2; no. 43; pp. 336 - 341
• Main Authors: Kosovych, Vitaliy, Kosovych, Bohdana, Rym, Olena
• Format: Journal Article
• Language: English
• Published: Kyiv Fintech Alliance 01.01.2022; FINTECH Alliance LLC
• Subjects: Humanism; humanization of economy; legal means; model of socially-oriented economy; Public private partnerships; Socialization; socialization of economy; socio-economic partnership; Ukraine
• DOI: 10.55643/fcaptp.2.43.2022.3694
• ISSN: 2306-4994

The article is devoted to the consideration of one of the defining trends in the world and domestic economy of the third millennium — socialization. Its inevitability is caused by the fact that one of the main challenges hindering the establishment of the ideals of humanism in today’s globalized and supercivilized society is the problem of growing social inequality. This issue is acute for the former post-Soviet states, including Ukraine.It is stated that the formation of socially-oriented economies should be grounded on both the ideological principles of humanism (for example, social piety and sacrifice of business) and the socialized economic component. It is fulfilled by the economic relations based on the consensus of interests of social groups with different levels of income and wealth and different in their functional purpose of social institutions. It is proposed to consider such relations as a socio-economic partnership.The key features of socio-economic partnership are highlighted. It is argued that in modern conditions it is not enough to consider the socialization of the economy only as the establishment of the ideals of social partnership (social dialogue) between employer and employee.It is pointed out that the experience of developed countries with a high level of public assessment of the state execution of its socio-economic functions allows to identify at least two other important areas of socialization of the domestic economy: public-private partnership and implementation of advantages of the socially-oriented economy model (Scandinavian socialism). A brief description of these areas is given.Attention is paid to a set of objective preconditions that determine the need for socially-oriented evolution of the modern economy. The range of subjects of socio-economic partnership in Ukraine is highlighted.The characteristic of the existing in Ukraine normative-legal basis for realization of the recommended directions of socialization of the domestic economy is given. Normative innovations to the legislation of Ukraine on social partnership and public-private partnership are offered, the main branches of legislation that need to be reformed in order to establish the ideals of the model of socially-oriented economy in domestic practice are named.