Communism
What is communism?
Communism is a type of government as well as an Economic system or a way of creating and strong wealth. In a communist system, individual people do not own land, factories, or machinery. Instead, the government or the whole community own these things.
Why did the crash happen?
Covid-19
name 3 of the five countries still with communism
China, Cuba, Laos, Vietnam, and North Korea.
Pros
Some pros of communism are equality, every citizen can keep a job, efficient distribution of resources, and the government gives free healthcare and education to its citizens
About how long did it take for the US to recover from the crash?
6-12 months
Who was president during the crash?
Joe Biden
Cons
Some cons of communism are restrictions of human rights and poor economic performance.
How did the crash affect the U.S?
Unemployment rates skyrocketed and caused the Covid-19 reccesion
Why don't many countries have communism?
because communism requires you to work without being the owner of anything, and most countries work based on independence.