ANALYSIS OF THE IMPACT OF THE VALUES’ SYSTEM ON COUNTRY’S ECONOMY AND CROSS-COUNTRY COMPARISONS

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ANALYSIS OF THE IMPACT OF THE VALUES’ SYSTEM ON COUNTRY’S ECONOMY AND CROSS-COUNTRY COMPARISONS

Journal Title: Проблеми системного підходу в економіці - Year 2017, Vol 2, Issue 58

Abstract

The aim of the article is to analyze the impact of the values’ system on country’s economy and undertake cross-country comparisons. Such analysis should be based on theoretical and practical approaches. From theoretical point of view, by values we mean an aggregate characteristic of their commodity properties which can obtain a form of market outlook, satisfy the needs of the society and be easily expressed in terms of money. By values’ system we propose to understand a set of economic, ecological and social axiologies. All the values exist within the economic system. In the marker economic system, the highest economic value is money, because money is the absolutely liquid asset and owes a purchasing power. At the same time, contemporary money is known as fiat money, which does not have intrinsic value. In this relation, the global monetary paradox occurs. Our practical investigation of values is based on two axioms. First, different countries live in a different way. Second, different countries live in a different way because of different values’ systems. It was proved that the values can be a source of economic prosperity of a country. These values are expressed in terms of GDP. A set of countries were analyzed by this criterion and the most successful countries with the best system of economic values were revealed. Ecological values were estimated for the countries of EU on the base of ecological culture profile. Social values were proved to be a driving factor and accelerator of a country’s economic development. Taking valuable factors into consideration has the global economic evidence.

Authors and Affiliations

I. S. Marekha

Keywords

EP ID EP538801
DOI -
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