Socialization of the economy as a priority factor in the development of society

Abstract

The accelerated development of science, technology and innovation, informatization and intellectualization of society’s life significantly affect social processes, the socialization of the economy. The crisis phenomena occurring in the country have negatively affected the demographic situation, the level of income of the population, and the provision of social standards of living. The restoration and preservation of the country’s economic potential can be achieved through the socialization of the economy. The purpose of this article is to reveal the theoretical understanding of the process of socialization of the economy as a mechanism for the development of society. The article analyzes the factors contributing to the acceleration of the process of socialization of the economy, and suggests priority areas of socialization of the economy in the Russian Federation.