Ona Grazina Rakauskiene,

Mykolas Romeris University, Vilnius, Lithuania,

ona.rakaus@mruni.eu

APPROACH TO REDUCTIONOF SOCIOECONOMIC INEQUALITY: DECREASE OF VULNERABILITY AND STRENGTHENING RESILIENCE

Herbert Strunz,

University A. Dubcek of Trencin, Trencin, Slovakia,

Herbert.Strunz@fh-zwickau.de

Abstract.The paper analyses the issue of socioeconomic vulnerability by applying the concept of strengthening resilience of an individual, society and country to socioeconomic inequality reduction. Traditionally, the concept of vulnerability describes the exposure to risk and risk management including insurance against shocks and threats. However, this paper presents a new approach in which the issue of socioeconomic inequality is addressed not by applying traditional social policy measures, but by strengthening individual and societal resilience: by shaping an educated society characterised by high level of culture and morality and based on solidarity; reducing social tensions; fostering a happy individual who perceives the meaning and fullness of life and is involved in the creation of socioeconomic life. The purpose of the paper is to justify the development of inclusive society and reduction of  socioeconomic inequality through examination of socioeconomic vulnerability factors and strengthening of individual and societal resilience. This paper presents the key results of a subjective study which we carried out in January – February 2016.

Received: May, 2016

1st Revision: October, 2016

Accepted: November, 2016

DOI: 10.14254/2071-789X.2016/9-4/15

JEL Classification: D63

Keywords:socioeconomic inequality,vulnerability,structural, vulnerability, cycle vulnerability, vulnerable social groups, resilience, hardiness.