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For poorer sections of society, a state controlled economy is better than a liberalised economy

Favour



  • China is biggest example of success of state controlled economy.

  • In liberal economies richer become richer and poorer are getting poorer.

  • A state controlled economy will result in proper flow of benefits towards rural masses.

  • State has control over the production and the markets helping poorer sections to avail benefits which they otherwise would have been deprived of.


Against



  • State controlled economies are big problem in path of growing business in country which will surely affect country's growth; eventually affects poor population.

  • Russia is biggest example of failure of state controlled economy.

  • The communist countries are bright example of state controlled economies do not result in uplifting poor.

  • As history stands a proof that, state controlled economies have higher rates of corruption and mismanagement.

  • A liberal economy with sound regulatory framework will ensure employment and a healthy economy.


Conclusion



  • State controlled economy has benefits but evidences from history tell us that state controlled economy is big failure.

Contributed by: Studyfreak

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