The article considers the problem of historical evolution of the Modernity paradigm from its initial - Eurocentric and national-territorial version towards its global, cosmopolitan version. It is posited that the “unfinished Modernity project”, despite solid postmodernist-styled criticism, remains the basic paradigm for the contemporary society’s self-description and for its legitimating. It is argued that discourses being developed in opposition to Modernity do not possess its universality and legitimacy in the global world. As for the core direction of the Modernity transformation, it is presented as the shift from the existing world economy to emerging values and institutions of the world politics that departures the limits of nation-states losing their legitimacy as foundations of the Late Modernity.