Advantages. Communism has a centrally planned economy; it can quickly mobilize economic resources on a large scale, execute massive projects, and create industrial power.
Similarly one may ask, what are 3 disadvantages of communism?
Disadvantages of Communism
- The government owns all the businesses and properties (the means of production).
- There is no freedom of speech.
- Large or geographically-broad populations tend to be diverse, making it difficult to maintain a common goal or set of rules for shared effort andresources.
Furthermore, what are the advantages and disadvantages of communist economy? Top 10 Communism Pros & Cons – Summary List
| Communism Pros | Communism Cons |
|---|---|
| Corporate monopolies can be avoided | Trade relationships may suffer |
| May increase social cohesion | Manipulation of the general public |
| Communism may improve overall safety levels | Currency issues |
| Sufficient investments in infrastructure | Sovereign default |
Also know, what is a major disadvantage of communism?
The most significant disadvantage of communism is the fact that it eliminates the free market from domestic society. That means there are no laws of supply and demand available to set the prices for consumers to pay.