SPIRITUAL AND MORAL BASES OF MODERN ECONOMIC BEHAVIOR

• Main Author: Rzayeva, U.J
• Format: Article
• Language: Azerbaijani
• Published: LLC (EOOD) “SCIENTIFIC CHRONOGRAPH" 2019-11-01
• Series: Научен вектор на Балканите
• Online Access: https://repository.kvantor.org/public/5/91

Economic behavior includes many many areas, including psychology and economics. Economic behavior comprehensively enhances the explanatory power of the economy, as it provides it with a stronger and more rational psychological foundation. Over the past 20 years, many studies have studied various aspects of behavioral economics, which has led to the introduction of relevant principles related to human behavior in the practice of managing socio-economic processes. The article discusses the moral and spiritual foundations of economic behavior in its historical context and modern understanding. The standard assessments of traditional economists regarding the nature of man are intensively reevaluated by modern economists who follow new concepts of an integrated approach to assessing economic behavior by people, which include socio-psychological and spiritual-moral factors. Traditional economists proceed from maximizing rationality, maximizing utility or benefit, and minimizing the costs of individuals with relatively stable preferences. In order to cause a change in economic behavior, one should avoid manipulation and incorrect information, and use an integrated approach to solving the problem. The process of forming the moral foundations of economic behavior is historical. The content of our moral beliefs, and not just how moral we are, affects our ability to trust each other, and this, in turn, affects our ability to maximize overall prosperity thanks to the high trust of society. It is this principle that underlies the moral foundations of economic behavior. The formation of moral standards (such as duty, honor, responsibility, prudence, justice, perseverance, industriousness, politeness, the "golden rule of morality", etc.) is associated with lifestyle, household relations, content and nature of work.