The Weaknesses of the Socialism Economic System

In conclusion the book Islam and Economic Challenge (1992) 3, Dr. M. Umer Chapra explain a number of weaknesses of the Socialism economic system.

The performance of centralized economic planning is not better. Deletion of profit motive and private ownership to kill the initiative, motivation and individual creativity in a society with a persfektif the short life of the world. This reduces the efficiency and the harmful side of this economy. Centralized planning and kolektivitas also improve the justice does not succeed - even to the centralization of power in the hands of a small number of Politburo members. This is even worse rather than capitalism monopolistik that, even if it causes concentration of power and wealth, may not occur a large concentration of power such as the decision-making processes that terdesentralisir usually owned by the market. Furthermore, secular views, and the unscrupulous inherent in the system pull out of the socialist system of values agreed by the people, the only mechanism left filter making decisions about allocation of resources is a member of the Politburo was very powerful. With so rich and have a high position in these systems are able to enjoy access to any of their Maui, with exactly the same happens in capitalist countries, while the poor remain difficult to meet even their basic needs. Not surprisingly totalitarian system has resulted in a large number of materials and taken misery of mankind and in which he was expelled by the revolution of the people.