Are The "Extreme" Economic Systems Totally Pointless?: Communism Starts To Unravel

The video discusses worker motivation, highlighting the concept of psychic profits as a key motivator beyond monetary incentives. It examines discretionary effort and its role in enhancing productivity. The video critiques communism's production issues, emphasizing the inefficiencies of government planning without supply and demand. It concludes by discussing the transition to free markets, noting that even communist nations incorporate some market elements due to their efficiency in addressing diverse human needs.

In what ways do black markets emerge in a communist system, and what impact do they have on trust in the government?

Why is the free market considered the most efficient way for people to express their needs and wants?