Abstract
The purpose of studying the state of development of the country and, especially, the policy of maintaining and improving the standard of living of the population is to study the relationship between the ongoing economic policy and the level of well-being of the population. To achieve this goal, the authors identified and outlined such problems as the study of the connection between the current economic system in the country and the practice of distributing income of the population, their comparative analysis in the context of different economic systems, as well as factors influencing the accumulation and consumption of the income. Based on the study and analysis of the path of state building of the Republic of Armenia over the past period, the authors of the article made an attempt to characterize and evaluate the achievements in the socio-economic development of the country during the 1965-1980s, when Armenia was one of the republics of the former Soviet Union, and also to discuss the dynamics of change a number of macroeconomic indicators of the Republic of Armenia for 2010-2023, and compare them with selected fifteen-year development indicators of Soviet Armenia. The patterns and lessons learned from the study indicate that a market economy does not always create the best conditions for ensuring the well-being of the population, therefore an active and targeted social policy of the state is important.
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