Modernization of Nowadays Russian Economy and the Human Development Concept
Abstract
The article examines some theoretical foundations of economic modernization in Russia. The key idea of modernization, the author believes, lies in the fact that the current Russian economic model of capitalism is capable of (under implementation of national projects) to ensure the welfare and quality of citizens lives (the ultimate goal of modernization). This idea needs to be revised, as high levels of poverty and widening income inequality steadily play in Russia. The author shows that the specific targets of modernization are based on the outdated theoretical concepts; that the ultimate goal of modernization mismatches the postulates of the theory of human capital selected to achieve this goal; as well as the ideas of economic growth as a major factor in combating poverty and improving welfare are wrong.
Keywords:
economy modernization, theory, concept, life quality, human capital, human potential, human development, poverty
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.