The article discusses the problem of investment attraction of Russian economy in the period of transition to the market conditions of economy. The author emphasizes that the attraction is hard to achieve because of natural conditions (primarily climatic) and that this should not be connected with political and other factors because this is an economic problem. After indicating that competition cannot be directly connected with the quality of goods, the author stresses the key hypothesis which states that in the conditions of the free world market the level of production cost of almost every Russian company is higher than average, which is why it is not attractive for investments. He terms this claim the ‘bitter theorem’ and proves is through the acts of natural, primarily climatic factors.