Theoretical Aspects of Socio-Economic Orientation of Agrarian Economy

Mykola Krushelnytskyy ()
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Mykola Krushelnytskyy: 'Institute of Agrarian Economics' National Scientific Centre, Kyiv, Ukraine

Oblik i finansi, 2016, issue 1, 179-185

Abstract: In a globalized market environment, socio-economic orientation of the agrarian economy is becoming less significant. Focusing only on profit escalating economic entities in the agricultural sector are neglecting the need to ensure the social impact of agricultural activities. This is one of the reasons for the growth of social tension in society. The aim of the article is disclosure of main principles of socio-economic orientation of development of agrarian economy. On the basis of the basic postulates of social market economy theory the necessity of state participation in the provision of social orientation of the agrarian economy is proved. Outlined main principles of social responsibility of business entities according to international standards. Characterized in details the components of the social function of the agrarian economy. It is revealed that the indicator of socio-economic orientation of the agrarian economy is the level of social responsibility of business entities, describing their response to the satisfaction of certain socio-economic needs of the people.

Keywords: social market economy theory; social function of the economy; social responsibility; social and economic needs; agrarian economy (search for similar items in EconPapers)
JEL-codes: M14 Q19 (search for similar items in EconPapers)
Date: 2016
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