Are You Willing to Become a COMMUNIST Philippine Country?

 

Russia and China are communist countries and dealing with Russia & China as part of President Duterte's political agenda brought some questions in the mind of some Filipinos on why he left America and went to these countries which are what we call communist countries.

There's a question in some Filipinos, what if the Philippines will become a communist country? What will be the disadvantages and advantages of this kind of system?

 

Advantages: 

1. All are equal.
2. There's a job for every citizen.
3. An internally stable economic system
4. Establishment of stronger social communities
5. No competition.
6. Efficient distribution of resources

Disadvantages:

1. The government owns all the businesses and properties (the means of production).
2. There is no freedom of speech.
3. Large or geographically-broad populations tend to be diverse, making it difficult to maintain a common goal or set of rules for shared effort and resources.
4. Central planning is difficult to achieve.
5. Consumers' needs are not taken into consideration.
6. Productivity and efficiency are difficult to achieve without profit motive for the workers.
7. It is difficult to achieve internal balances between supply and demand without a price mechanism.

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 and resources.

Central planning is difficult to achieve.

Consumers' needs are not taken into consideration.

Productivity and efficiency are difficult to achieve without profit motive for the workers.

It is difficult to achieve internal balances between supply and demand without a price mechanism.

Source: Boundless. “The Disadvantages of Communism.” Boundless Business. Boundless, 20 Sep. 2016. Retrieved 24 Oct. 2016 from https://www.boundless.com/business/textbooks/boundless-business-textbook/economics-and-business-2/businesses-under-communist-systems-31/the-disadvantages-of-communism-167-559/

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 and resources.

Central planning is difficult to achieve.

Consumers' needs are not taken into consideration.

Productivity and efficiency are difficult to achieve without profit motive for the workers.

It is difficult to achieve internal balances between supply and demand without a price mechanism.

Source: Boundless. “The Disadvantages of Communism.” Boundless Business. Boundless, 20 Sep. 2016. Retrieved 24 Oct. 2016 from https://www.boundless.com/business/textbooks/boundless-business-textbook/economics-and-business-2/businesses-under-communist-systems-31/the-disadvantages-of-communism-167-559/