Is communism a good idea?

A question from Yahoo! Answers:

Is communism inherently a good idea?

I am not too educated in this topic, but from what I know it seems that communism is a failed system because of human’s individuality. People are competitive and don’t want to be limited in what they can do. Other than this, is communism a good idea?

Communism was Marx’ response to the idea that productivity growth will eventually cease. If that were to happen, new skills would no longer command a premium, and the ruling elite would get a chance at permanent entrenchment, possibly to the point of restoring absolute monarchy and involuntary servitude. To prevent this from happening, Marx thought, a popularly elected government must step in and nationalize the productive assets controlled by the elite to ensure that democracy continues to exist and human rights are respected.

Marx thought that the limits of productivity growth will be achieved during the 19th century as all possible technology will have been developed. Alas, that didn’t happen; the human race continues to innovate. Will it ever happen? So far, it doesn’t look that way.

The reason communism failed wherever it was tried is that everyone trying it chose to forget that it should only be tried if limits of productivity have been achieved…

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