Endogenous Social Progress as a Source of Economic Growth

In this essay, the author argues that social capital and progress should be treated as a separate endogenous source of economic growth and, consequently, it included in models, along with physical human technological progress. Social is public good, which not only raises individuals’ intellectual capacity but also increases labor productivity, thus driving growth. The socialization process, learning by doing, helps to overcome declining returns, maintain continuous sustainable Socialization, meant process mastering knowledge skills, shapes people’s perception affects their attitudes, explained behavioral economics. However, we need find way measure value its impact on illustrates reasoning example Chinese society transformation China’s system, resulting rapid