ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -He believed all countries should become capitalist and develop that productive capacity, and then workers would naturally revolt, leading communism whereby the workers would become the dominant social class and collectively control the means of production.

Detailed explanation-2: -The theory of a command economy was defined by Karl Marx in the Communist Manifesto as “common ownership of the means of production, ” and it became a typical characteristic of communist governments.

Detailed explanation-3: -According to Marx, capitalism contained the seeds of its own destruction. Communism was the inevitable end to the process of evolution begun with feudalism and passing through capitalism and socialism. Marx wrote extensively about the economic causes of this process in Capital.

Detailed explanation-4: -Command economies were characteristic of the Soviet Union and the communist countries of the Eastern bloc, and their inefficiencies were among the factors that contributed to the fall of communism in those regions in 1990–91.