What we need is re-economization, rather than re-industrialization!

TERRA ECONOMICUS, , Vol. 14 (no. 4),

The crisis in the Russian economy has, as the author puts it, in-country origin, and therefore it can be overcome in a short time. However, breakthrough is needed to place Russia in the technological, economic and social coordinates which are relevant for the XXI century. Russian economists suggest various models of domestic economy which differ in their conceptual and instrumental orientations. Among these models, strong public support is given to those ones which are oriented toward conservation of historical and economic features of the “Russian path”. Nevertheless, each of these models is of unpredictably experimental character, while Russia, as the author argues, has «exhausted» its right for experimental trials in the previous century. In contrast, the author provides justification for general economic values which had already proven its relevance to the social efficiency, and which are seen as the basis for modern market civilization. The author is concerned that the idea of re-industrialization which has become popular nowadays, will emphasize the technocratic character for inevitably forthcoming reforms. The concept of “re-economization” is introduced in the paper as the viable alternative for the concept of re-industrialization. As the author puts it, due to latent change in the Russian economy that had taken place in post-Soviet period, the basis for systemic market transformation have already shaped. The main points of the article involve the problem statement, explanation of the essence of re-industrialization, summary on the diagnosis of the Russian economy, and justification for the need for re-economization as the process of systemic market reforms.

Keywords: re-industrialization; diagnosis of the Russian economy; re-economization

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606