Economics Communism Questions
In a communist system, the role of innovation is typically limited or controlled by the state. The focus is primarily on meeting the basic needs of the society as a whole, rather than on individual creativity or entrepreneurial pursuits. Innovation is often directed towards advancing the goals of the state and improving the overall efficiency of the planned economy. However, due to the lack of competition and incentives for individual success, innovation may be stifled, leading to slower progress and limited technological advancements compared to market-based economies.