Humanization of Economy and Macroeconomic Processes in the 21st Century

Posted: 3 Sep 2014

Date Written: September 1, 2014


Humanization is a cross-sectional phenomenon that affects all structures and forms of the functioning of a socio-economic formation. It is a counterpoint to black zones in economy, egoism, aggression, pursuit of profit at any cost, etc.

In this context, we can therefore discuss the humanization of the economy as the catalyst that eliminates immoral and unethical processes in the economy and society supports efficient and sustainable economic and social development, and not the boundless pursuit of profit, but mankind and society as a whole in the center of its attention.

We can say that a professional insight into further development shows the need to theoretically and practically develop the humanization of the economy and society in the 21st century. It is a long-term process, hence it cannot be perceived as a certain status quo.

Humanization can and must be understood as an integrating phenomenon of previously scattered insights into socio-economic formations. In the era of globalization, humanization is a crucial precondition for addressing those negative macroeconomic processes which are currently so intensely discussed and caused by unethical and immoral pursuit of profit.

Understanding, acceptance and guarantee of a moral dimension under the auspices of a moral and effective state constitute the right compass to humanize both the economy and society. We would like to emphasize that the humanization of the economy and society in the spirit of previous principles should catalyze the entire global development, and thus eliminate its negative aspects and processes to the greatest extent possible.

Keywords: Humanization, Morality, Ethics, Competitiveness, Economic Growth, Technology, Social Models, Regulation, Labour Market, Employment, Innovation, Research

Suggested Citation

Ivanova, Pavlina, Humanization of Economy and Macroeconomic Processes in the 21st Century (September 1, 2014). Institute of Economic Affairs Monographs, Vol. 1, No. 1, 2014. Available at SSRN: or

Pavlina Ivanova (Contact Author)

Independent ( email )

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