Welfare of the population as an indicator of modernization potential of the territory

The article presents the results of a research into population’s welfare as the basis of modernization processes. The authors carried out a comprehensive analysis of statistical and sociological data and highlighted the specifics of welfare in Russia and in the Vologda Oblast in terms of formation and use of money income; they also revealed the proportion of the population who are objectively ready to economic modernization. The authors revealed the emerging positive trends that show increasing involvement of the population in the savings-and-credit models. However, the scale of changes is not so great, and it covers only a small part of highly well-off population. In order to assess regional specifics, the authors grouped the RF subjects according to the level of income inequality of the population and other parameters of welfare that have an impact on the modernization potential of a territory. Judging by the indicators of the selected four groups of regions, the largest socio-economic potential of modernization is observed in the subjects with high income inequality. The authors have come to a conclusion that under the current circumstances modernization is possible only in the presence of legitimate and competent authorities capable of radical democratization and the strengthening of basic social institutions; besides, the formation of that part of the population, which is objectively ready for modernization transformation of the economy and society depends directly on the presence of conditions that promote the achievement of decent financial welfare of the peopl