- 16 Aug 2013 02:20
#14288495
Hello! I apologize if this has been asked before, a quick search did not provide any clear answers.
I have always been a happy capitalist, and everything I know about communism comes from other capitalists, such as standard economics professors. I never actually heard the communist perspective on this, I just assumed that there was no response to them, which is a bit presumptuous.
I'm sorry if my understanding of communism is totally wrong, rendering the questions meaningless. I'd especially love answers that are either short or well summed up and very clear/concise. I assume that there are standard answers here, as this probably comes up in debates some times.
1. What are the incentives to work hard, innovate and invest resources under communism?
2. How can you ensure that resources are used by whoever needs them the most? (In a market system, higher prices for scare resources means people will not squander them. If e.g SLR cameras cost a certain sum, it will ensure that people only people who need them such as photographers will buy them, while most people will spend their money on other stuff. Obviously, this is irrelevant in a communist system which still uses money)
3. Related: How do you know when a resource is more scarce and should be replaced? (In a market system, this is typically regulated automatically. If e.g. steel becomes more scarce and difficult to extract, the price will increase, and people will perhaps begin to use aluminium instead. How can a communist system ensure that all these resources are used effectively, and replace ineffective products or resources with more effective ones? There must be millions of products out there to keep track on)
Also, have any communist country successfully resolved these issues?
Thank you very much
I have always been a happy capitalist, and everything I know about communism comes from other capitalists, such as standard economics professors. I never actually heard the communist perspective on this, I just assumed that there was no response to them, which is a bit presumptuous.
I'm sorry if my understanding of communism is totally wrong, rendering the questions meaningless. I'd especially love answers that are either short or well summed up and very clear/concise. I assume that there are standard answers here, as this probably comes up in debates some times.
1. What are the incentives to work hard, innovate and invest resources under communism?
2. How can you ensure that resources are used by whoever needs them the most? (In a market system, higher prices for scare resources means people will not squander them. If e.g SLR cameras cost a certain sum, it will ensure that people only people who need them such as photographers will buy them, while most people will spend their money on other stuff. Obviously, this is irrelevant in a communist system which still uses money)
3. Related: How do you know when a resource is more scarce and should be replaced? (In a market system, this is typically regulated automatically. If e.g. steel becomes more scarce and difficult to extract, the price will increase, and people will perhaps begin to use aluminium instead. How can a communist system ensure that all these resources are used effectively, and replace ineffective products or resources with more effective ones? There must be millions of products out there to keep track on)
Also, have any communist country successfully resolved these issues?
Thank you very much