What Are Some Advantages And Disadvantages Of A Socialist Economy System?


3 Answers

Tom Long Profile
Tom Long answered
The advantage to the average person is they do not have to lift a finger to support themselves. The government provides all the money to them for most of thier living. They will choose where you live, what you can afford to buy and where you can go on the money they give you.

The disadvantage is there is no incentive for anyone to work and pay taxes so the government can pay for it. Also the government can limit your freedom of mobility and self control by only giving you enough money to let you do only what they want you to do
thanked the writer.
Tush Bedi
Tush Bedi commented
Its a bit too would be better if you gave a more detailed explaination
Anonymous Profile
Anonymous answered
A socialist economy can be partly ran by the government but you can also have private ownership, and they have free medical care, edu., and welfare
Anonymous Profile
Anonymous answered
Get me some information about the demerits and merits of socialism

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