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The article examines the most important social consequences of the 30-year capitalist transformations in Russia. The authors carried out the periodization of the stages of transformations. It is proposed to consider three heterogeneous stages: 1) 1991–1999 — liberal-oligarchic reforms; 2) 2000–2013 — strengthening of the state-capitalist orientation of reforms while preserving their liberal-capitalist foundations; 2014 — present — consolidation of state capitalism. Despite the significant differences between these stages, they are united by a decrease in the level and quality of life of the main segments of the population while maintaining high social inequality and separating the interests of the ruling "elites" from the needs of the majority of the country’s population. The results of 30 years of capitalist reforms are summarized in four areas: (1) the quality of employment; (2) standard of living; (3) housing provision; (4) demographic consequences. It is proved that for a long enough period of capitalist transformations, the social expectations of the majority of the population in improving the level and quality of life have not been justified. There are high levels of precarious employment and the unstable material situation of workers’ households; an increase in poverty in terms of income used for consumption and socio-economic inequality; excessive indebtedness of the population; chronic housing poverty and high gaps in housing provision; depressing demographic consequences of capitalist transformations. The general conclusion is made that the internal and external conditions of Russia’s development predetermine the need to change the course for the continuation of capitalist reform, in whatever forms it is carried out in the future. It depends on whether the future of the peoples of Russia will be successful.