This empire was founded on the ideas of communism and Marxism.
In practice it was an empire based on corruption, lies and deceit, which resulted in the poverty of hundreds of millions of people. While 'The West' lived in relative prosperity and freedom, the Soviet Union lived in increasing relative poverty, as their leaders lied to them in order to stop them realizing their failings.
It collapsed largely because those in control chose to fight a cold war with the USA and its western allies, which necessitated an arms race which finally effectively bankrupted it.