Social Wellbeing as an Imperative of Import Substituting Neo-Industrialization in Vilfredo Pareto Methodology

Abstract

Social wellbeing plays a target role in the development of modern economy. For countries that have passed through a period of market reforms and industrial decline, the prospects for growth of wellbeing are connected with neo-industrialization of economy, which allows to enhance domestic production and the growth of medium- and high-tech employment. At present in Russia and the other raw material-producing countries the rental model of the economy makes impossible to increase the wellbeing without causing conflicts of interest of various social groups, including the elite one. Therefore, in Russia it is highly important to restore the domination of the industrial complex, which will lead to a decrease of pre-industrial economy share and will contribute to the formation of post-industrial way of life. Its main feature is continuous wellbeing. The transition from material production to high-tech services should be the consequence of the growth of the level of industry's technological development.