• S. Newcomb — Abstract Science in America, 1776—1876 (The Preface by O. Sheinin and L. Sheinin)
• I. Peaucelle — Innovations in Economic Science: French Contribution for the Last 70 Years

• V. Livshits, A. Shvetsov — What Mistakes Should Be Avoided under Evaluating Investment Projects with State Participation
• E. Kutsenko, D. Tyumentseva — Clusters and Innovations in the Subjects of RF: The Results of Empirical Study
• V. Gazman — Innovative Leasing Financing
• A. Zhuk — Dissertation Trap on the Way of Building Innovation Economy

• V. Klinov, E. Sidorova — Which Capitalism Is Better? (On the Book by D. Daianu «Which Way Goes Capitalism? In Search of Adequate Policies in a Dramatically Changing World»)
• O. Kirchik — French Sociologists on Capitalism (On the Book by L. Boltanski and E. Chiapello «Le nouvel esprit du capitalisme»)

Abstracts

The article is devoted to the analysis of theoretical and applied preconditions and restrictions to the accelerated privatization and modernization of present governance model of state property in Russia. The authors consider comparative advantages and risks of the public sector, quantitative dynamics of the 2000s, groups interests as well as offer their vision for the «new privatization policy» frame and prospects.

Money supply can be divided into two components: the one serving nominal GDP production and the other serving stock market transactions. It is argued that weak fluctuations of money supply growth rates relative to nominal GDP growth rates provoke strong fluctuations of the money supply component serving stock market. This, in turn, leads to sharp fluctuations in the stock market conjuncture that implies not only financial turmoil but economic depression. The authors propose to manage this process through analyzing dynamics of the specially designed index.

The paper written by the famous American scientist — astronomer, physicist, and economist S. Newcomb (1835—1909) reviews the development of American science in the 19th century. The author analyzes factors of the poor state of science in the USA and compares institutional and organizational features of science in America and in Europe. He shows that the USA lags behind not because of the lack of intellectual potential (such as low level of education), but due to the lack of interest on the part of society and to the absence of demand for science. It is possible to overcome this indifference if the society realizes the importance of abstract science and enormous practical opportunities stemming from it.

In the article some branches of modern economic thought are considered, in which the French researchers have made pioneering contributions. French science is characterized by its Cartesian roots as well as by the ideas of national accounting dating back to Quesnay. Over the past 70 years two parallel paths of these fundamental distinguishing features are clearly visible. One way is formed under the influence of historical, legal and psychological research. It is presented by indicative planning, experimentation in the economy, and theories of justice and regulation. The other way is determined by the inclusion of mathematics, where the French contribution can be seen in such approaches as macroeconometric modeling, the theory of disequilibrium and quantitative finance.

Principle shortcomings of Russian and foreign practice of realizing large investment projects are analyzed in the article. The reasons for systematic underestimating risks and overestimating advantages of such projects that determine their inefficiency are revealed. The necessity of investment decisions’ project presentation and evaluation of their efficiency is proved. The state of Russian methodic base for evaluating investment efficiency is considered. Stereotype economic and methodic delusions of investment projecting practice that lead to serious mistakes are shown.

According to the modern economic theory one of the most important factors of increasing the rate of innovations is cluster formation. Studies undertaken in the US and Europe confirm the significance of this factor. Nevertheless, it is unclear, to which extent the regularities observed in developed countries can be applied to transition and developing economies. This paper is dedicated to theoretical justification and empirical study of the impact of clusters on the innovation rate in the regions of the Russian Federation.

Securitization has an innovative mechanism for effective financing of investment projects. It allows achieving tangible economic results in the renewal and modernization of the capital stock, in an integrated manner combining lending, leasing, factoring, emission of securities. The article submits the scientific definition of «securitization of leasing assets»; the system of inequalities that reflects the economic feasibility of the project taking into account the yield of the participants and allowing to simulate the process of securitization of leasing assets and its pricing; comparison of contract cost of the lease contract and the amount of securitization, which allows investors to improve the quality of risk management; relationship of the duration of the leasing portfolio and the efficiency of securitization. It also analyzes 72 securitization transactions of leasing assets in Italy in 1990—2011 as well as the prospects for the development of innovative financing of leasing in Russia.

The paper attempts to find the solution of the problem of improving the quality of scientific research by candidate and doctor of sciences applicants with institutional economic theory research tools. The dissertation research economic institution analysis has revealed the institutional trap in its structure which distorts real goals and objectives of scientific research of young scientists. The comparative study of quantitative indexes of post-graduate system in Russia, European Union and USA is presented in the paper. The directions of modernization of post-graduate education in Russia are proposed.

In his interview Victor Zubkov discusses the measures aimed at developing Russia’s forestry complex and forestry economy. Special attention is paid to protection of forests from fires, reforestation. Public-private partnership should play an important role in order to create engineering, transport and energy infrastructure, implement new technologies, increase the level of timber processing, balanced forestry use.