Brieana Tabera & Lulite Sintayehu
- Greater Efficiency
- Greater Welfare
- Absence of Monopolies
- Absences of Business Fluctuations
- Elimination of Individualism
- Slow Economic Growth
- Less Entrepreneurial Opportunity and Competition
- Lack of Motivation by Individuals due to Lesser Rewards
Viable or Not?
A socialist economy is a viable place to live, even though compared to capitalism there are some differences they are almost the same thing. But in a socialist economy their work forces are stronger and held together more so than a capitalist economy today. They can easily find jobs to provide for their families and eventually make enough money to purchase a home for their family to live in.