Social Efficiency as Basis of Development of European Union

Abstract

The economics assumes the interdependence of three categories: efficiency, effectiveness and capacity of resources. The key term is efficiency, which is directly analyzed in the economic approach. Its degree is determined by the components of social efficiency – focusing on analyzing personal development of participants of the economy and improve relations between them. The European Union calls attention to this aspect of development. The EU priorities social values rather than economic. This is an appropriate assumption and its implications should find its place in the philosophy of governance and management in the EU context.