Approaches to the economy modernization

The article is devoted to the approaches of economic modernization. The different concepts of modernization are compared referring to the interpretation of the concept «modernization» itself. The ambiguity of the concept «modernization» determines the different approaches to its conducting. We analyze the age of machines and equipment used by the Russian companies in their business activities and draw a conclusion that companies use the physically and morally outdated equipment. The direct and indirect measures of the state promotion of economy modernization are considered. The author draws a conclusion that the unilateral modernization is ineffective, and it is appropriate to use the bilateral approach, when the government sets the state’s development trend, and at the same time the companies will strive for self-development.