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Results of privatization campaign in 1990's continue to meet strong opposition from a very considerable part of Russian people and authorities actually refuse to consider the rights of private owners legitimate and not subject to violation. One of the reasons for this, besides historical tradition, is a specific nature of Russian privatization of 1990's. The article brings to discussion a set of measures aimed at overcoming its negative consequences. While insisting on the need to honor all previous government obligations and commitments, the paper proposes a one-time special tax (windfall tax) to be levied on those who benefited most from privatization deals that were not just and fair, and special rules to be set for the use and sale of economic assets of national importance. The author also considers possible ways to legitimize private property, as well as chances to achieve а broad public consensus on this issue in Russia.

Main features of the new economic model for Russia are considered in the article. The strategic vision of the problem of economic transformations in the country is presented, directed at its deep modernization. The goals of the state concerning economic policy in general and industrial policy in particular are formulated. The necessity of making a number of key political decisions for successful implementation of the long-term strategy of Russia's development is noted.