Importance The article discusses a fundamental monograph by Professor V.N. Livshits. The monograph illustrates how the economy of modern Russia should be reorganized. Objectives The research aims at demonstrating that the current global circumstances require reindustrializing the country. In particular, it is relevant in the context of import substitution. An inadequate understanding of reasonable economic management impedes scientific discussions and effective solutions to the current issues of the State policy and public administration. To make new reindustrialization processes possible, it is necessary to elaborate a scientific framework. V.N. Livshits's monograph summarizes his huge scientific expertise and provides valuable assistance in developing a necessary scientific framework for the Russian economic reorganization. Methods The review focuses on the main structural components of the monograph. Using the methodology and tools of a system analysis, V.N. Livshits dedicates the first section to examining the process and implications of Russia's economic reforms (1992-2013). The second section deals with the Russian economic crisis' root causes and progress, with a focus not only on the short-term financial crisis that became evident since August 2008, but also on the earlier artificially created socioeconomic crisis that was deep and long-standing and of systemic nature. The third section elaborates a systemic methodology for evaluating project efficiency as the central part ('core', as the author puts it) of the investment policy. Results The final fourth section of the monograph proposes ways, paths of activities and critical steps to effectively tackle the crisis. Readers will find interesting and helpful addenda in the fifth section, i.e. the article and report In Commemoration of Leonid V. Kantorovich, aGreat Mathematician, Economist and a Prominent Personality in the Transportation Industry. Conclusions and Relevance Reading through over 600 pages of the Livshits's book, readers will find plenty of valuable, interesting and useful material. I can advise the book to everyone who strives for an in-depth understanding and vision of Russia's future. The book is intended for those real scientists who study economics in order to better comprehend today's processes and ensure sustainable development of the country.
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