Question

Is Communism beneficial for a country or not? Give reasons to justify
your answer.​

Answer 1

Answer:

Communism is an economic system where the group owns the factors of production. In countries, the government represents the group. The means of production are labor, entrepreneurship, capital goods, and natural resources.1 Although the government doesn't legally own the labor force, the central planners tell the people where they should work. German philosopher Karl Marx developed the theory of communism.

He said it was, "From each according to his ability, to each according to his need."2 In his view, capitalistic owners would no longer siphon off all the profits. Instead, the proceeds would go to the workers. To Marx, this meant that people would work at what they loved and did well. They would happily contribute these skills for the good of all. The economy would prosper because they would work harder than in capitalism.

"To each according to his need" meant the community would take care of those who couldn't work. It would distribute goods and services to everyone as they required them. Those who were able to work would be motivated by enlightened self-interest.

Explanation:

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Answer 2

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Communism has a centrally planned economy; it can quickly mobilize economic resources on a large scale, execute massive projects, and create industrial power. It can move so effectively because it overrides individual self-interest and subjugates the welfare of the general population to achieve critical social goals.