Akademik Məlumat İdarəetmə Sistemi
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.822-828
A whole range of socio-political conflicts and economic problems of modernity unfolds between such extremes as unequal access to resources and rewards, wealth and poverty. Excessive differences in financial means and vital opportunities have a direct negative impact on the development of human potential, initiating long-range requirements that set incentives and direction of economic development. The article discusses the role of the middle class as an active economic entity, which is an engine of economic growth, as well as a guarantee of the stability of the entire social system. The middle class acts as a motivation for the innovative development of modern society because it is the foundation and social base of civil society. The availability of a powerful middle class in the social hierarchy of modern societies is an important indicator of reducing inequality, increasing the level and quality of life, and ultimately sustainable development. The process of creation and development of the middle class is one of the basic social processes in transformational economies. That is why it is necessary to create a social structure within the limits of which people would be able to establish their abilities and develop them to the full extent in order to strengthen the position of the middle class. The basis of social policy for sustainable development implies a fundamentally new system of values. Under this policy, the state shall maintain a balance of interests between social groups, which in turn will ensure the balanced and sustainable development of the entire social system.