Disadvantages of Socialism
The existence of only one-party makes the government of Socialist states to become oppressive and dictatorial
The individual's political rights to form and join the political party of his choice is limited to the only political party that exists in the state
The economy of most socialist states does not grow fast unlike the capitalist states since private individuals are not allowed to participate in the running of the economy.
The government monopolizes the state economy on a large scale since much of the state's economy resides in government's land. For this reason, private individuals do not take initiatives in the economy
The consumers' free choice of goods or products is limited since private competition which can lead to qualitative products is not allowed
Exercises
1. What is communalism?
2. Outline the characteristics of communalism.
3. Explain the meaning of feudalism.
4. What are the features of capitalism
5. Explain the meaning of socialism
5. Discuss the difference between capitalism and socialism
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WEEK FIVE
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