By now Russian society, economy and state institutions has roots largely in the economic institutions formatted in the quarter a century of transition. External factors for the Russian economy are getting more risky for next decades, especially in terms of the quality of growth. Situation is even more difficult due to combination of reducing the work force, «brain drain» to emigration (to OECD countries) and the huge social and regional disparities. Modernization of the economy, shift to innovative type of development depends more on institutions than on the technology. Difficulties of development meet naturally another issue of the growing aspirations and demands of major social groups. New mobilization “by idea” now is problematic – it would take the visual success in realty and certainty of prospects. Success of modernization depends actually on “second transformation” to reach a highway of developed democratic market economy, what was the objective when reforms started. This approach could be the ground for creating and public support for long-term strategy of development for next two generations.