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Individualistic Mentality and Economic Education


Economics

Individualistic Mentality and Economic Education

Name and surname of author:

Jozef Horeháj, Ľuboslava Kubišová

Year:
2011
Issue:
4
Keywords:
individualistic and collectivistic mentality, economic education, economy and policy
JEL clasification:
DOI (& full text):
Anotation:
The article focuses on economic education broadened by the effects of market mechanism on social system. In economic and social research, the two basic approaches are individualism and collectivism.…more
The article focuses on economic education broadened by the effects of market mechanism on social system. In economic and social research, the two basic approaches are individualism and collectivism. The article emphasises that individualism is of great importance for market functioning and for an efficient economic system. It clarifies chosen market categories – optionality, reciprocity and solidarity, competition, which formed and confirmed personality traits of people, social rules and institutions – and relationship between economy and policy as important elements of formation of individualistic mentality.Relation between economy and policy becomes crucial and in principle contradictory one. Policy requires legalisation of means of power, coercion and force which brought permanent threat of their abuse. Despite of this threat collectivisation of economic activity and expansion of public needs changed state from “inevitable evil” to the “creator of prosperity”. Market economy changed to mixed economy and collectivistic concepts begin prevail in social mentality promising faster and “more comfortable” solutions to economic and social problems usually resulting in negative economic and social consequences in the long run.In spite of expansion of collectivistic mentality in transitive economies and also in advanced democracies (through the impact of integration trends) especially in the twentieth century, individualistic mentality is consideredby the authors as more adequate not only for efficient economic but also for optimal social development. Economic education can significantly contribute to formation of individualistic mentality.
Section:
Economics

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