Are the "Extreme" Economic Systems Totally Pointless?

Communism vs Laissez-Faire Capitalism Both of these opposing theories are very extreme and, for what it's worth, don’t exist in any modern economies anywhere around the world today, despite what some nations might have you believe.  In this episode of Economics Explained, we'll explore the following questions: So what are the economic arguments for and against a communist economic system?  What are the economic arguments for and against a completely free market? Are there any examples of these extreme systems actually working throughout history? Learn more about your ad choices. Visit megaphone.fm/adchoices

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On Economics Explained, we take a look at interesting countries, policies, and decisions from the point of view of an economist. The world is an interesting place and we hope to uncover some of this intrigue in our short, informative podcasts.