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Not a foot back! We can do it!


Oleg Protsenko
(about the author)

Protsenko Oleg D. –

Rector’s consultant, Doctor of Science, Economics, Professor, Editor-in-Chief of the Scientific Journal «Russian entrepreneurship»

(Russian Presidential Academy of National Economy and Public Administration,)

Published in:
Russian Journal of Entrepreneurship
– Volume 16, Number 9 (May, 2015)



Keywords: economic reforms, import substitution, knowledge economy, postindustrial economy, stagflation


Citation:
Oleg Protsenko (2015). Not a foot back! We can do it!. Russian Journal of Entrepreneurship, 16(9), 1219-1228. doi: 10.18334/rp.16.9.214


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Abstract:

The author presents his analysis of the development dynamics of the domestic economy. The studies have demonstrated that, as a rule, the largest (in terms of the amount) capital is concentrated in the leading countries of the postindustrial economy in high-technology industries. At that, the accelerated growth (including that in the knowledge sector) of these countries results from the increasing funding of scientific research. That is exactly the type of approach that modern Russian economy calls for. The amounts of money that corporation «Siemens» currently invests in science surpasses all the investments of Russia in science. This leads to Russia’s lagging behind the industrially developed countries in terms of activity of innovation enterprises. Besides, the problems of the Russian economy are, at the present time, aggravated by the presence of recession, stagnation and stagflation.Having fallen into a «trap» of growing social benefits and income levels not accompanied by an adequate labor efficiency increase (with an existing-for-seventy-years belief that the state «is in its citizens’ debt» to make things even worse), people came to unwillingness to accept fundamentals of market economy. The only cure for this economic «trap» seems to be the youth’s education and the adoption of unpopular reforms. That is the only way!








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