Interconnection of economic and social mechanisms in the innovative model of socioeconomics

Abstract

The article examines the interconnection between economic and social mechanisms within the innovative model of socioeconomics, aiming to justify it as a model of sustainable economic development. The innovativeness of this approach lies in the fact that previous socio-economic research focused primarily on individual aspects of economic and social processes, considering them separately. A structural-logical scheme has been built to demonstrate the impact of socioeconomics on the functioning of the social system. It is shown that moral imperatives, legal norms, and ethical principles shape human obligations, while the value orientations of economic entities, aligned with cultural and moral standards, limit the selection of goals and means in the economic sphere. Together, they determine the organizational structure—formal and informal institutions that create mechanisms and ways of regulating economic relations, establishing political, economic, and cultural order. Socioeconomics, as an innovative model, is aimed at transforming the social system, making it more flexible and open to changes needed to ensure sustainable economic development. It acts as a tool enabling the social system to more effectively adapt to contemporary challenges such as social inequality, environmental changes, and other global issues that require the integration of social and economic goals. Key arguments supporting socioeconomics as an innovative model are presented: socioeconomics emphasizes that economic development is impossible without considering social factors; an important element of socioeconomics is environmental responsibility; it employs new managerial models that involve collaboration among the public, private, and civil sectors; it views human capital as a key resource for development; an essential aspect of socioeconomics is the utilization of international experience in socialization, where the integration of social programs into economic policy has proven successful, demonstrating the adaptation of innovative approaches to national conditions.