How Communism Stifles Innovation

Research shows that the political ideology of communism restricts innovation, today’s panacea for economic growth and long-term prosperity.
How Communism Stifles Innovation
Workers on the assembly line at the Sino-French joint venture Dongfeng Peugeot-Citroën Automobile (DPCA) plant in Wuhan, China. Peter Parks/AFP/Getty Images
Rahul Vaidyanath
Updated:

Research shows that the political ideology of communism restricts innovation, which is the panacea for economic growth and long-term prosperity today.

In broad strokes, the communist tenets of state ownership of business and property, under strict government supervision, lead to a risk-averse culture. People in these societies work in an environment that discourages ambition and creativity. This is the polar opposite of the conditions that foster innovation.

Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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