0
Socialism can be less efficient than capitalism primarily due to its centralized planning and lack of market-driven incentives. In socialist systems, resource allocation is managed by the state, which can lead to inefficiencies and misallocation due to the absence of price signals that guide supply and demand. Additionally, the reduced competition in socialist economies can stifle innovation and productivity, as state-run enterprises may lack the motivation to improve efficiency compared to profit-driven private firms.
What else can I help you with?
What other 3 economic systemsdo economists recognize?
Economists recognize several economic systems, including capitalism, socialism, and mixed economies. Capitalism is characterized by private ownership and market-driven production, while socialism emphasizes collective or government ownership of resources and wealth redistribution. Mixed economies incorporate elements of both capitalism and socialism, balancing private enterprise with government intervention to address social welfare. Other systems, such as communism and feudalism, also exist but are less commonly discussed in contemporary economic discourse.
African socialism existed before European socialism?
The African socialist movement came into existence after European socialist movements. Socialism originated in Europe during the 19th century, but only became influential in Africa after the second world war during the period of decolonization. African socialism was less about socialism, meaning an alternative to capitalism, and was more about anti-colonialism, anti-imperialism and national development.
A tax always makes a market less efficient true or false?
true
Marx would have approved of communism in the Soviet Union under Lenin and Stalin?
I really don't think so. Russia never reached the stage of capitalism and we're talking 50-100 years here(could be less). Marx believed in the transformation of capitalism to socialism when it has reached it's height and then to communism.
When a plane lubricant to a pulley, does it make it more or less efficient?
It’s makes a explosion
How do socialist and communists view capitalism differently?
I believe Socialism is more social control and direct use rather than profit. Money, classes (maybe, but not a wide gap), and state still exist Communism seeks to abolish Capitalism too, but wants a classless, money less, stateless society based on common ownership and means of production
What is the meaning of Democracy is the road to socialism?
It means that if you have a democratic system of government, this will ultimately lead to a socialist attitude to economics and social responsibility. That is because the government would have to respond to the desires of the majority, not those of the most wealthy and powerful, and thus is less favourable to capitalism.
How can an ergonomic keyboard help me?
It makes work more efficient and will stress your joints less so you can work longer.
Definitionfor the word socialism?
In theory, its objective is a class-less, government-less society.
Why shouldn't a fridge be over-packed?
because of hygiene +++ Also reduces air circulation so makes the cooling action less efficient.
What economic system attempts to even out inequalities of wealth?
Thats a tough one, and you're going to get a lot of different opinions. When looking at gender equality its always ALWAYS Western economics (ie different mixtures of capitalism and socialism. More socialism=less capitalism and vice versa). And racial equality seems to also follow gender equality. So the answer most likely in short is some sort of combination of capitalism and socialism. I say most likely because its like the scientific method, we can only disprove methods, like we disproved anarchy or communism as being most equal. Of course someone is going to say communism if the most equal, which in theory is true (I think thats the definition right?), but has yet to be true in practice. http://www.huffingtonpost.com/2010/10/12/top-countries-for-gender-_n_760012.html#s154763&title=Iceland__1
What is canned news?
a news that effects the parallelism and the tenuous relationship that makes the dynamic of the national press and local press most efficient and less monotonous
