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Communism
Communism is an idea for a economic system introduced by Karl Marx, a sociologist and economist, on February 21, 1848. The idea states that the people own all property together, make the same wages, and all make decisions together. In return, this idea would eliminate all social classes, meaning people aren’t wealthy or in poverty. Communism, in theory, sounds like a suitable economic system. However, it’s incapable of providing a strong and reliable system, thus making it inefficient.
A stable economy’s production rate should at the very least be below average, but with Communist states, that’s not the case. Even with Communism's already low production, their workers aren’t motivated at all making the situation worse. Since everyone receives the same salary, there’s no need for workers to do more than what’s expected. There are no benefits to working diligently, so this starts ideas in people's minds such as, “Why would I need to keep up with other countries.”, but statements like this hinder the advancement of the country. Since everyone works towards the same goal, to help out with the motivation, once all the companies under Communist rule reach a certain milestone, everyone would be rewarded with the same object or pay. The outcome of this would be more motivation from workers, and to increase production, the companies should have higher expectations of production and raise the pay, meaning that the effort from the workers would be worthwhile.
It’s likely that if a citizen's freedom is controlled, they’d retaliate with constant uproars. According to news24, citizens are likely to use black markets and trade with each other, and both of these acts are illegal and can get someone arrested, or killed. There are some cases in which they people have had enough of Communists rule, for example Tiananmen square, where the Chinese government sends military to fire at a group of demonstrators calling for a democracy .In order to give the people more freedom, the citizens should be able to trade items of the same value. Also the people should be able to spend money on whatever they wish, except disposable objects such as food. To clarify, if a person owns 2,000$ and a 5,000$ car, their personal value would accumulate to 7,000$, and since everyone makes the same salary, technically everyone has the same personal value.
When the time comes for war, Communist states are in terror, as their economy is in danger. One Communist explains, “Communism works very well when it’s not subjected to war, imperialist invasion, subversion and infiltration by collaborators with the extreme wealthy.” In Karl Marx’s plan, he addresses that there must be a revolution in order for his system to work but this means that the same could happen to the Communist rule. Currently Venezuela , a socialist economy similar to Communism, is currently under a massive assault, which proves how prone these countries are. However if the community is more motivated and patriotic, they’d be more willing to fight for their country.
At first glance, Communism seems quite useful, seeing as it helps the citizens in poverty. However, after a while, the same weekly routine becomes repetitive and the system proves to be inadequate. The Communist era lasted from February 21, 1848 to December 25, 1991. At the moment, only 5 Communist parties remain, but with a bit of reforming, their economy just might be able to be saved.
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This is the explanation of communism, and why it is an inadequate economic system