ECONOMIC SECURITY AND STANDARD OF LIVING: HOW DO SOCIAL FACTORS INFLUENCE ECONOMIC STABILITY?

Abstract

This article examines the existing relationship between economic stability, security and quality of life of people. The emphasis is placed on how social factors - employment of the population, access to health care and education affect the financial stability of the state. Based on the analysis of social aspects, it is shown that a high and stable level of well-being of citizens contributes to sustainable development, reduces the level of poverty and socially unites people. The work also analyzes political measures that potentially increase the standard of living and economic stability. Based on the above, it is important to say that social policy measures and improving the well-being and standard of living of the population are the most important component in maintaining economic stability and security of the state. The analyzed experience of many countries of the world shows that investments in education and health care contribute to the development of a competitive economy and improve the well-being of people. Social factors - the absence of unemployment, access to medicine and education play a key role in the formation of economic stability and security of the state. The policy aimed at improving the standard of living of the population can be safely called a fundamental instrument for ensuring financial stability - its implementation and transformation reduces the level of poverty, social tension and promotes sustainable development of the state.