Moscow, Russia – In a significant departure from the neoliberal socio-economic policies imposed on Russia’s leadership in the 1990s, President Vladimir Putin has unequivocally signaled his intent to move in a different direction. Russian economist Mikhail Khazin recently made this assertion, as reported by the news agency DEITA.RU, drawing from an interview on the radio station “Moscow Speaking.”
According to Khazin, the current Russian leader has come to the realization that the neoliberal model, along with the broader global capitalist system, has reached a state of exhaustion, rendering them obsolete. In its place, Putin envisions a new paradigm for the development of mankind on a global scale.
The expert notes that Putin has consistently articulated the path Russia will tread—a course marked by reasonable conservatism infused with elements of the socialist system. It can be surmised that he aims to extract the best aspects from the Soviet project. As Khazin highlights, this shift has already become discernible, notably evident in Putin’s “left turn.”
Such a change in direction has long been anticipated by observers. According to the expert, the forced transition to this policy materialized in the spring of 2020 when Putin initiated a hands-on approach to regulating the social sphere. It is through his intervention, Khazin asserts, that individuals continue to receive regular financial support in the form of various benefits, allowances, and assistance.
Putin’s embrace of reasonable conservatism with socialist elements aligns with his vision for Russia’s future. By blending elements of the past with a forward-looking perspective, he aims to shape a society that combines stability, social justice, and economic prosperity. The president’s emphasis on bolstering the social safety net demonstrates a commitment to mitigating inequality and ensuring the well-being of the population.
As the world grapples with the challenges of a rapidly evolving global landscape, Putin’s shift toward a new socio-economic paradigm has broader implications. It signals a departure from the dominant neoliberal order and offers an alternative approach that prioritizes the welfare of citizens, while still acknowledging the importance of free markets and private enterprise.
While it remains to be seen how this paradigm shift will unfold in practice, early indicators suggest a concerted effort to strike a delicate balance—a synthesis of the best attributes from various systems. Putin’s strategic departure from neoliberalism signifies a willingness to adapt to changing realities and chart a unique course for Russia’s socio-economic progress.
As the world watches Russia’s transition unfold, the implications of Putin’s paradigm shift will undoubtedly reverberate beyond national borders. The success of his vision for a harmonious blend of conservatism and socialism could potentially influence other nations grappling with the challenges posed by the limitations of neoliberalism.
