Paradigm shift of economic policy: economics and stagnation of Russian economy

The present article analyzes a problem of paradigm shift of economic policy conducted by Russian government. It depicts a limited nature of a liberal monetaristic model of a transition towards market economy and its extension in a form of macroeconomic stabilisation policy implemented solely as a state control over money supply (a «dear-money» policy). The article further concludes that it is the first priority for economics to work out a model of development aligned both with developmental challenges of Russia and with current state of Russian economy and up-to-date tendencies of global development. The current state of Russian economy is qualified as stagnated, and in order to overcome it would require to shift a traditional macroeconomic policy. Upon that, Keynesian concept of state regulation of economy remains the main alternative. Based on an analysis of positions of Russian economists from the point of Lakatosian concept of research programs, major directions of reception of Keynesian ideas are identified within Russian post-Soviet economic thought...