The Essence, Significance and Necessity of Researching The Directions for Improving The Welfare of The Population Based on The Development of Entrepreneurial Activity in Uzbekistan

Abstract

The well-being of the population is a key indicator of socio-economic development and stability in any country, with entrepreneurship recognized globally as a fundamental driver for economic growth and job creation. In Uzbekistan, the transition to a market economy has underscored the strategic importance of entrepreneurial activity, with national reforms increasingly aimed at fostering business development as a pathway to improved livelihoods. Despite the theoretical and historical foundations linking entrepreneurship to public welfare, there remains a need for integrated analysis that combines  Western and Eastern economic thought with Islamic perspectives and Uzbek national experience to justify the necessity of entrepreneurial development in enhancing population welfare.  This study aims to explore the essence, significance, and necessity of promoting entrepreneurship as a means of improving the well-being of the population, grounding its analysis in global economic theory, national policy, and cultural values. The findings confirm that entrepreneurship facilitates employment, economic stability, innovation, and income growth, while also fostering social cohesion and quality of life. Both Western liberal economic models and Eastern ethical traditions converge in supporting entrepreneurship as a societal good.  The study presents a comprehensive synthesis of economic philosophies from Smith, Ricardo, Hayek, and Schumpeter with Islamic teachings and Uzbek thinkers like Al-Farabi, showing their complementary roles in conceptualizing welfare through entrepreneurship. The research provides a theoretical and practical basis for policy formulation aimed at expanding entrepreneurial activity as a sustainable mechanism for raising living standards and ensuring national development in Uzbekistan.