Methodological Foundations of an Expanded Understanding of the Economic Mechanism of the Modern Socio-Economic System of Russia

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An expansive interpretation of the economic mechanism of the modern socio-economic system is considered on the example of Russia. The authors used, firstly, the relationship and interaction of political economy, institutional economics and economic policy, and, secondly, a combination of systemic and reproductive approaches as the methodological foundations of the study. The extended economic mechanism is presented in many aspects—as a combination of self-development and external control, as a single system of “economic laws—institutions—management decisions”, as a unity of natural, technical, economic, social processes, as the interaction of real and virtual economies. Due to the fact that the socio-economic system of modern society is multi-level, then the economic mechanism is the interaction of macro-, meso- and micro-levels of management. The coordination of local interests with national interests is urgent within the framework of the regional level (meso-economics) in the Russian economy, the problem of combining self-development and self-government of municipalities with the influence of the regional and federal levels. The authors consider the issue of localization of national production, textile industry. It’s noted that this process in the modern economy follows the path of the formation of clusters (complexes of the national economic or regional level). The formation of an innovative textile-industrial cluster as a combination of enterprises of the cotton, linen, chemical industry with research organizations and specialized educational institutions and the development of various forms of public–private partnership are very important for the regions of the Upper Volga. Attention is drawn to the fact that the economic mechanism should orient economic entities to combine current goals with long-term goals, which requires the development of long-term design (planning).