why is Russian economy so small when it is the biggest country in the world

[vostok]

Bit too optimistic there.

You are more realistically looking at 4th behind China, US and India.

4th - is for Russian Federation alone. But Eurasian Union will be 2nd or 3d. And USA is not forever

 

[xuxu1457]

USSR was unbalance, good at Heavy industry which was supported by military need, but weak at light industry and consumer goods related with people's life; So do the Russia.

 

[Echo_419]

USSR was unbalance, good at Heavy industry which was supported by military need, but weak at light industry and consumer goods related with people's life; So do the Russia.

Yes
Almost all of the documentries which I saw about USSR it was very good at heavy industry but sucked at consumer/light industries

China is taking the right step regards to this they are ballanced in this

 

[Developereo]

Socialism.

The old system discouraged individual entrepreneurship so Russia's resources were not efficiently utilized.

Unfortunately, the pendulum has now swung too much to the other extreme, where robber barons have become billionaires while the average Russian has not seen as much benefit.

Eventually, the Russians will find a balance.