What is Communism
Communism is an economic system where means of production are controlled and managed by a Central State Authority, and there is also a restriction on the ownership of personal property. In communism personal belongings, as clothing, watches, and shoes are allowed to be owned by individuals and the houses are owned by the State.
Communism is the extreme form of Socialism
In communism individuals are assigned work by the State and they are given a bit remuneration of their service normally in kind. People get ration from Government department. People do not have choice of their own. They have to be content with whatever is prescribed for them. State provides all social services such as educational, recreational and hospital facilities.
Advantages and Disadvantages of Communism
Advantages of Communism
- Following are the merits of communism
- Careful life
- Full employment of manpower
- Rapid development and economic growth
- Equitable distribution of wealth
Disadvantages of Communism
- Personal freedom is lost
- Workers are treated as machines
- Materialistic approaches to life problems
- Central State Authority holds all means of production