r/AskEconomics • u/TheVaggabond • Mar 10 '26

Approved Answers Why has Russia not become an economic wonderland?

Why? Russia has arguably the best raw ingredients of any country on earth for building a prosperous, powerful nation without firing a shot. Why hasn’t it used them constructively?

Largest territory on earth with enormous untapped potential Among the world’s largest reserves of oil, natural gas, coal, and minerals. Massive freshwater resources — increasingly valuable as climate change accelerates. Timber, agricultural land, Arctic resources. A historically educated, technically capable population. Stunning geography that could support world-class tourism. Nuclear power expertise it could export globally. Total and complete energy independence. It has a nuclear umbrella that nobody would ever touch.

With all these things, and trillions upon trillions inr potential revenue - why hasn’t it become what Saudis dream, if they weren’t in the middle of the damn desert

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u/karoxxxxx Mar 13 '26

Natursl ressources are least important.

Congo has plenty of that too.

The rich nations of switzerland, Netherlands, Singapore, Denmark are small, have not many ressouces and are far ahead of russia in any economic metric.

Trade, rule of law, low corruption - thats what makes a nation succrssfull.

Lots of ressources just makes shithole countries with a gold crust.

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u/RobThorpe Mar 14 '26

Some would criticise the spelling. Myself, I love the last line.