Introduction
The study of the connection between social behaviour and economics is at the heart of social economics, a field of social science and a subfield of economics. Socioeconomics is another name for social economics.
The interaction between social processes and economic activity within a society is the main focus of social economics. A particular social group or socioeconomic class's behaviour within a society, particularly their purchasing decisions, may be attempted to be explained by social economics.
Social economics theories occasionally depart from traditional economic theories. They may take into account variables that are not typically covered by conventional economics, such as how the environment and ecology affect consumption and wealth.
Social economists typically examine the many economic decisions made by members of various socioeconomic strata. A group of individuals with comparable traits is referred to as a socioeconomic class. These traits may include social and economic standing, educational attainment, the occupation one now holds, and ethnic background or heritage.
Different socioeconomic classes could place different priority on how they spend their money, or they might have income restrictions that prevent them from affording specific items or services. Access to more comprehensive or advanced medical care, opportunities for education, and the opportunity to purchase food that adheres to strict nutritional standards are a few examples of these products or services.
In social economics, there are two main schools of thought. They are complementary even though they take opposing approaches. The first approach, developed by Nobel laureate Gary Becker, applies the fundamental theoretical and practical tools of neoclassical microeconomics to aspects of human behavior that aren't typically regarded as belonging to the economic sciences, like crime and punishment, drug abuse, marriage, and family decisions.
What role should an RDA play in this area? Why?
When answering this question, there are a few broad considerations that must be made. Both the global dimension and the local dimension include these elements.
The overall degree
First, we must take into account that the global economic system has some important characteristics that are currently obvious on both a global and local level. The idea of economic growth is just one of the factors involved in a process of economic development; because there aren't any tools for advancing integration, pure economic growth results in imbalances that, over time, become unsustainable. The problem is not new, and attempts to solve it have resulted in various kinds of welfare. Lesser state involvement in this area is not solely due to a lack of funding, but political and cultural perspectives also influence the state's level of involvement in providing services to the general public and marginalized groups. Both of these characteristics lead to the numerous policy variations that exist between European nations. However, states are generally playing a decreasing and smaller role in order to allow the market, with its more effective processes, to compete for the supply of services at lower prices than those the 3
R. Galliano, social economy The state of Asnm/Eurada itself would have. However, this occurrence also leaves a vacuum between the services provided by the public sector and those provided by the market. If the market does not take the production into account
local scale
However, it must be emphasised that RDAs' local objectives are to improve the attractiveness and competitiveness of the places they are in charge of. This entails raising the standard of living for local residents. However, the degree of integration and belonging of the socially disadvantaged population also affects the quality of life in the community. This satisfies an equity requirement as well as the objectives of reducing neighbourhood strife and enhancing safety. Another factor has to do with the fact that by increasing the level of inclusion, the local government has the opportunity to redirect funds to other initiatives, when in the alternative situation they should be used to support welfare generally.
Economic and social development that is sustainable
The idea of sustainable development is another factor driving RDAs' interest in social economy. In addition to the numerous definitions of "sustainability," the following examples show how it might be achieved in practice, at least according to ASNM's observations:
financial stability
The term's French version, which refers to "development durable," or development that endures over time, may help to clarify the idea of economic sustainability. What form of economy endures throughout time, or, put another way, what features of the economy can be handled through local or national interventions? What should the foundation of development be in order to allow the community and local governmental institutions to intervene or direct it, and most importantly, in order for it to be long-lasting throughout time? We define this type of development as having a strong local context-rootedness, a local vocation, and the presence of mechanisms that keep businesses in their current locations. However, we must keep in mind that rivalry between businesses.
environmental protection
The environment is connected to sustainability in a second way. Sustainability in the environment is arguably easier to understand right away because environmental awareness and protection, however challenging, are already commonplace phenomena even at the local level. The establishment of new businesses or the promotion of economic expansion must take into account the effects of production activity in terms of the pollution and resources used. Therefore, it is important to recognize not just non-polluting productions but also those that conserve energy or resources. In addition to these resources, the area, or rather area consumption, is one of the scarce resources.
resources without a corresponding economic improvement to their genuine value. Today, environmental sustainability may make use of specific operational tools that are also becoming more widespread locally. One of these tools is Agenda 21, which not only determines the pathways to take and the projects that need to be undertaken to improve the environment of community life, but also "photographs" the environmental status of an area.
Social resilience
Regarding this matter, we believe that RDAs must likewise act to promote greater social inclusion and integration. Obviously, social sustainability and economic sustainability are related. The aim of equality and equal opportunity for all social groups, even the most socially marginalised ones, to access resources and employment.
resources without a corresponding economic improvement to their genuine value. Today, environmental sustainability may make use of specific operational tools that are also becoming more widespread locally. One of these tools is Agenda 21, which not only determines the pathways to take and the projects that need be undertaken to improve the environment of community life, but also "photographs" the environmental status of an area.
Social resilience
Regarding this matter, we believe that RDAs must likewise act to promote greater social inclusion and integration. Obviously, social sustainability and economic sustainability are related. The aim of equality and equal opportunity for all social groups, even the most socially marginalised ones, to access resources and employment.
Their investment is of an economic kind. The topic is being discussed across Europe, and there has been a wide range of experiences. Public-private partnerships are far more developed in Anglo-Saxon countries than they are in Mediterranean nations. Without delving into the merits of overall effectiveness, for the entire community and in perspective, of some operations like the privatisation of entire sectors such as health, culture, and education, it is important to emphasize in this context that while the practice of public-private partnerships is currently quite common in some countries, it is still, for the time being, almost in an experimental stage in others.
The requirement for an integrated strategy between the various institutional levels, including the European Commission and national states, is one of the additional considerations for institutional sustainability.
Social economics' importance and effects
Social economics undoubtedly has a significant impact on people's lives, and socioeconomic position may have a significant impact on future accomplishments, educational attainment, and financial security. For instance, someone coming from a wealthy upper-class or upper-middle class family would probably have more opportunities. They will have the financial means to pursue further education while also broadening their horizons through study abroad opportunities or frequent trips to discover new places and cultures.
Due to pressure from their family and other people in their social class, as well as the same accomplishments of their peers with comparable socioeconomic origins, they will also be more likely to do so.
Higher education completion, including earning undergraduate and graduate degrees, is closely related to an increase in income and qualification for senior management jobs. Additionally, it makes it possible to contact with people of a similar social status more frequently and to create social networks that include people from the same or higher social classes.
Indeed, studies show that offspring with university-educated parents have a far higher probability of succeeding in school and are more likely to get the high grades required for post-secondary and beyond schooling. High-achieving schools with stronger teaching staff and resources are more likely to enroll students who have highly educated parents.
According to other research, parents with a college education are more likely to place a high value on academic achievement and teach their kids the value of achievement-oriented behaviors and opportunities, such as pursuing advanced degrees, reading and writing frequently to develop strong skill sets, and participating in extracurricular activities and after-school activities to broaden and deepen their experiences. It consequently results in a stronger conviction of the benefit.
People who did not believe that post-secondary education was worthwhile and thought it would be better to start working right out of high school were those whose parents did not possess university degrees. Such an attitude may be made worse by the fact that they lacked an academic role model during their teens and had less financial and emotional encouragement to continue their education after high school.
Social Classes and Social Economics
To explain how people from different socioeconomic levels may adopt different priorities when making financial decisions for themselves and their families, social economics largely draws from sociological theories. Socioeconomic classes are defined as groups of people who share a similar social standing in society. This social standing is greatly influenced by a person's education, income, profession, and family background, including the educational and financial status of their parents and other close family members.
Since members of visible minorities and other disadvantaged groups have historically faced barriers to education and certain professions relative to their Caucasian counterparts, ethnicity and heritage also play a significant role in affecting socioeconomic classes as our society becomes more diverse and globalised.
Returning to earlier basic considerations, some socioeconomic classes also experience challenges in making some purchases since they are unable to do so due to lower income. The products or services could be finding a secure and comfortable place to live, receiving cutting-edge medical treatment, or consuming wholesome food.
Conclusion
Social economy organisations traditionally refer to the set of associations, cooperatives, mutual organisations, and foundations whose activity is driven by values of solidarity, the primacy of people over capital, and democratic and participative governance.