Earlier quoted context omitted.
The transition to a market economy went very well for most of the former Soviet Republics except Russia. https://economistwritingeveryday.com/2022/03/16/the-transiti... A lot of Russia's issues stem from the way the government sold off their state owned corporations, which created artificial monopoly/oligopoly owners overnight — often insiders/cronies to begin with. This can be contrasted with traditional market econ…
Yeltsin is very much to blame. Russia would have transitioned much better if Gorbachev had been the head of the post-USSR Russia instead of Yeltsin. That said, the former Soviet Republics that transitioned well are those that were smaller, already edging their way towards a market economy before the USSR collapse, and received substantial help from (and eventually joined) the EU (Baltics, Hungary, Poland, Czech Rep.,…
Gorbachev wanted to keep USSR intact. He didn't want a post-USSR Russia. He initiated referendums to that end. But USSR was already on the train to dissolution and nothing was going to stop it.