Vladimir Mau discusses key challenges and trends in the economy, social sphere and education

21 February 2022
Vladimir Mau discusses key challenges and trends in the economy, social sphere and education

Rector of the Presidential Academy Vladimir Mau has delivered a lecture on Challenges and Trends in Economic Policy at the Leaders’ Club. He described the key features of the crisis the world has been struggling with the last two years; he spoke about institutional, managerial and political challenges as well as the main trends – the changing role of the state in the economy due to the rapid development of technology; a rethinking of the economic growth concept; the problem of global inflation and the future of public and private investment. According to Dr. Mau, the world needs to do a lot of rethinking when it comes to the institutional and macroeconomic paradigms, as humanity is standing on the verge of a new life.

During the club meeting, Vladimir Mau answered some questions from the members concerning various current aspects of the Russian and global economy, social issues, globalization, ESG concepts and challenges, and economic growth.

“Economic growth is not entirely about formal figures; improvement of people's living standards comes into focus in this context. For example, GDP had not been evaluated before the Great Depression – it was an attempt to work out the ultimate measure of a country’s overall welfare. This indicator actually worked in the industrial economy, but there is a different correlation in the modern world: for example, most innovations are more likely to contribute to a decrease in formal GDP figures. Consider the so-called uberization or e-books replacing paper ones. The actual welfare can grow as well as decrease with the formal growth of GDP,” Vladimir Mau said.

Answering a question about globalization, the speaker noted that the universal globalization trend has given way to a regional globalization model, with the growing role of regional economic associations such as the EAEU. The recent challenges have not negated globalization, but converted it to a different form. The pandemic has shown how fragile the global supply chains really are – disruptions of most chains cause shortages of many things people need, so self-sufficiency within regional markets appears to be a good solution in this situation.

Some of the questions had to do with digital transformation and trends in education. Speaking about the training of managers at the Presidential Academy, Vladimir Mau highlighted the key principles that underpinned the 2010 merger between the Russian Academy of Public Administration, the Academy of National Economy and 12 regional civil service academies.

“We believe that management education is indivisible. When creating the Presidential Academy, we deliberately abandoned the Soviet model where senior Communist Party officials were trained at one educational institution, and government ministers, at another. In the post-Soviet period, the ANE evolved to a major business school, and RAPA, a school of public administration. However, in the modern world, the training of managers is a universal track. There is no point in delineating between management in the public, commercial and non-profit sectors,” Vladimir Mau emphasized.

For reference

The Leaders’ Club was founded in 2012. The initiative was supported by Vladimir Putin at a meeting of the Supervisory Board of the Agency for Strategic Initiatives.

The Leaders’ Club mission is to develop concrete proposals for improving the investment climate based on the members’ knowledge of how their own enterprises operate, as well as on relevant international experience. The Leaders’ Club members have helped develop roadmaps for the National Entrepreneurial Initiative (NPI) to improve the investment climate in the Russian Federation. They are also actively involved in monitoring the implementation of those plans. The Leaders’ Club assists in the promotion of socially significant projects and overcoming administrative barriers to the development of small and medium-sized businesses. The Leaders’ Club members regularly travel across Russia, meet with governors and ministers, representatives of state companies and business executives, and participate in business events.

The club speakers in 2021 included First Deputy Governor of the Central Bank of Russia Ksenia Yudayeva, President of the Moscow School of Management Skolkovo Andrey Sharonov, Deputy Chairman of the Board of Sberbank Kirill Tsarev, Director of the Internet Initiatives Development Fund (IIDF) Kirill Varlamov, CEO of Russia – Land of Opportunity Alexey Komissarov and others.


 


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