<abstract xmlns="http://www.w3.org/1999/xhtml">
<p>The paper delves into the concept of Society 5.0, which envisions a future society integrating advanced technologies with human-centred values to address current social challenges. It emphasizes the importance of aligning advanced technologies with human-centred values and social preferences to ensure the success and sustainability of Society 5.0. We offer comprehensive insights into the complex interplay between social welfare preferences and societal progress, emphasizing the significance of understanding and addressing societal preferences to foster inclusive, sustainable, and efficient societies aligned with the objectives of Society 5.0. The findings provide valuable guidance for policymakers and stakeholders in developing targeted interventions and policies that address critical societal challenges and foster progress across various well-being dimensions. The study emphasizes the importance of considering social preferences in the development of Society 5.0 and highlights the need for a holistic approach that integrates social preferences into the development framework. The study unveils that economic success does not guarantee societal advancement, as the array of social preferences reflecting the diversity of SWP impacts a country’s trajectory towards Society 5.0. By combining theoretical and empirical methodologies, we offer robust qualitative and quantitative insights for crafting optimal policies across different scenarios of individual SWPs and their effects on achieving social progress</p>
</abstract>

The paper delves into the concept of Society 5.0, which envisions a future society integrating advanced technologies with human-centred values to address current social challenges. It emphasizes the importance of aligning advanced technologies with human-centred values and social preferences to ensure the success and sustainability of Society 5.0. We offer comprehensive insights into the complex interplay between social welfare preferences and societal progress, emphasizing the significance of understanding and addressing societal preferences to foster inclusive, sustainable, and efficient societies aligned with the objectives of Society 5.0. The findings provide valuable guidance for policymakers and stakeholders in developing targeted interventions and policies that address critical societal challenges and foster progress across various well-being dimensions. The study emphasizes the importance of considering social preferences in the development of Society 5.0 and highlights the need for a holistic approach that integrates social preferences into the development framework. The study unveils that economic success does not guarantee societal advancement, as the array of social preferences reflecting the diversity of SWP impacts a country’s trajectory towards Society 5.0. By combining theoretical and empirical methodologies, we offer robust qualitative and quantitative insights for crafting optimal policies across different scenarios of individual SWPs and their effects on achieving social progress

Uncovering the Interplay Between Social Welfare Preferences and Society 5.0 Achievement: Implications for Sustainable Development

Faculty of Economic Sciences and Entrepreneurship

Faculty of Economics and Management, West Ukrainian National University

Institute of Public Administration and Business, WSEI University

ECONOMICS

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The paper delves into the concept of Society 5.0, which envisions a future society integrating advanced technologies with human-centred values to address...

Uncovering the Interplay Between Social Welfare Preferences and Society 5.0 Achievement: Implications for Sustainable Development

Published Online: Apr 08, 2024

Page range: 175 - 197

Received: Jan 08, 2024

Accepted: Apr 05, 2024

DOI: https://doi.org/10.2478/eoik-2024-0009

Keywords
society 5.0, preference, welfare, heterogeneity, social progress, development

© 2024 Oksana Liashenko et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Uncovering the Interplay Between Social Welfare Preferences and Society 5.0 Achievement: Implications for Sustainable Development

Published Online: Apr 08, 2024

Page range: 175 - 197

Received: Jan 08, 2024

Accepted: Apr 05, 2024

DOI: https://doi.org/10.2478/eoik-2024-0009

Keywordssociety 5.0, preference, welfare, heterogeneity, social progress, development

© 2024 Oksana Liashenko et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
society 5.0, preference, welfare, heterogeneity, social progress, development