Socialization of elements of economic system as a factor of social development of society

The article considers the issues of socialization of the main elements of the economic system, which are factors in the social development of society. The effectiveness of the social development of a society under conditions of socialization of the economy is measured not only by the quantitative growth of public goods, but also by the qualitative dynamics of characteristics and indicators of living conditions of the population, an increase in the level of satisfaction of basic needs of the population. Under the conditions of socialization of the economic system, guaranteed social inclusion of the population in the market economy system, high positive labor motivation, and social support of the least protected groups of the population are of paramount importance. The socialization of the economic system is due to the humanization of labor activity, which is transformed from a means of material support to a source of self-realization of a person, her life and creative potentials. The place of the employee in the system of social production is determined, due to the quality of competencies - his qualifications, education, intellectual capital. The level of socialization is determined by the development of the employee’s abilities and competencies, as well as the transformation of his needs - a change in the structure of demand and consumption. The social development of society is inextricably linked with improving the quality of life, raising material wealth, strengthening stability in society, and enhancing the economic security of the population.