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Cons
Lack of modernization, hard to change economy's "style"
Little innovation
No competition within the economy
Firms will have a hard time competition in the world market
The quality of the good are detrimental
Inefficient allocation of resources
Lack of Freedom
Lack of personal gain
Generally, there is a lower standard of living when compared to a free market economy
Pros
A sense of community within the economy
Income equality
Potential to get thins done VERY quickly
The roles of individuals are clearly defined
Every member of the society knows exactly what to do
Most don't have complaints about what to do
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