What are the advantages and disadvantages of Socialism?
Advantages: The economy is under government control so there is no boom and bust. Its constant and sustainable and more fairness and ethics can be put into place. Employment is higher. It is sometimes easier for the state to control things. Disadvantages: The scope for business is much more poor which reduces us working with international companies in the world market. There is no competition and less diversity. Domestic businesses do not have the motivation to get rich. It is sometimes hard for the government to manage everything.
