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DEMERITS OF SOCIALISM — Government Keypoint

DEMERITS OF SOCIALISM

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  1. The monopoly of the means of production by the government sometimes leads to inefficiency.
  2. The absence of competition in a socialist country sometimes leads to slow growth and development of the economy.
  3. It does not give room for individual initiative and as such creativity is not encouraged.
Others are Viewing:
  1. DEFINITION OF SOCIALISM
  2. FEATURES/ADVANTAGES OF SOCIALISM
  3. MERITS AND DEMERITS OF DEMOCRACY
  4. DEMERITS OF REPRESENTATIVE GOVERNMENT
  5. DEMERITS OF DELEGATED LEGISLATION
  6. WEAKNESSES/DEMERITS OF THE MACPHERSON CONSTITUTION
  7. DEMERITS OF GLOBAL INTERACTIONS

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