With the means of production no longer in private hands, the society will no longer be divided into classes of employers and workers
Instead of individual effort for individual benefit, there will be collective effort for collective benefit
The power of man over man will be diminished and that of man over nature will be increased.
The capacity to produce in abundance instead of being utilized for profit making, it will be utilized to provide plenty for all
The overhanging fear of depression, employment, inflation, destitution and insecurity will vanish with the knowledge that planned production will ensure jobs all the time
Imperialism war which result from profit makers hunt for foreign markets will come to an end
Dana05 answered the question on July 3, 2019 at 11:25
-
Describe socialism as a theory of economic growth
(Solved)
Describe socialism as a theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Describe capitalism as a theory of economic growth
(Solved)
Describe capitalism as a theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Highlight the Marxists criticisms of capitalism
(Solved)
Highlight the Marxists criticisms of capitalism
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the Marxism theory of economic development
(Solved)
Discuss the Marxism theory of economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of John Stuart Mill to the classical theory of economic growth
(Solved)
Discuss the contribution of John Stuart Mill to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of Thomas Robert Matthews to the classical theory of economic growth
(Solved)
Discuss the contribution of Thomas Robert Matthews to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of Jean Baptiste Say to the classical theory of economic growth
(Solved)
Discuss the contribution of Jean Baptiste Say to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of David Ricardo to the classical theory of economic growth
(Solved)
Discuss the contribution of David Ricardo to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of Adam smith to the classical theory of economic growth
(Solved)
Discuss the contribution of Adam smith to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
What is a theory?
(Solved)
What is a theory?
Date posted:
July 3, 2019
.
Answers (1)
-
Give any seven characteristics of less developed countries
(Solved)
Give any seven characteristics of less developed countries
Date posted:
July 3, 2019
.
Answers (1)
-
Highlight some of the side effects of economic growth and economic development
(Solved)
Highlight some of the side effects of economic growth and economic development
Date posted:
July 3, 2019
.
Answers (1)
-
State the changes that a country must experience during economic transformation
(Solved)
State the changes that a country must experience during economic transformation
Date posted:
July 3, 2019
.
Answers (1)
-
Briefly explain the concept of economic transformation
(Solved)
Briefly explain the concept of economic transformation
Date posted:
July 3, 2019
.
Answers (1)
-
What is underdevelopment as used in economic development
(Solved)
What is underdevelopment as used in economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss any five obstacles to economic growth and economic development
(Solved)
Discuss any five obstacles to economic growth and economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Highlight the disadvantages of using social indicators as a measure of economic development
(Solved)
Highlight the disadvantages of using social indicators as a measure of economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Identify the disadvantages of Gross Domestic Product per capita and Gross National Product per capita
(Solved)
Identify the disadvantages of Gross Domestic Product per capita and Gross National Product per capita
Date posted:
July 3, 2019
.
Answers (1)
-
State the advantages of Gross Domestic Product per capita and Gross National Product per capita
(Solved)
State the advantages of Gross Domestic Product per capita and Gross National Product per capita
Date posted:
July 3, 2019
.
Answers (1)
-
Highlight the problems associated with using Gross Domestic Product and Gross National Product as indicators of economic development
(Solved)
Highlight the problems associated with using Gross Domestic Product and Gross National Product as indicators of economic development
Date posted:
July 3, 2019
.
Answers (1)