COMMUNISM

Communism is bad in theory, because it degrades the effort and goodness of some for the benefit of others. But its more serious problem is in the idea that resources can be effectively allocated in a communist system; they can't be.

Economic calculation is impossible without a feedback system like prices. This is partly because value is subjective rather than objective. Value depends on people's choices and decisions, not on a measure such as the cost of production. In practice communism has proven to have a bad effect everywhere that it has been tried. All communist countries have either suffered economic collapse or have modified their system to allow more free-market transactions over time. It has proven wholly unworkable.

Communism is wasteful. It is much more wasteful than the free-market because it destroys valuable things when there is a lack of economic information.

Communism is inefficient, without the incentive of profit there is little motivation for improvement in any process.

Communism is a lie. Under the guise of collective ownership there are always people, committes and managers who have actual control over resources and are able to use their disposal of the resources in exchange for favors if not for money.

Ownership is a natural fact of nature and regardless of who owns the title it is the person who has final say in the disposal of a thing or resource who is in fact the owner.