Subsidy Period - why is the economy always so bad under Communism?
Hi guys, I was born in 1987, 1 year after Vietnam ended its Subsidy Period. I grew up poor and heard many horror stories about this period in Vietnam. I'm sure people in other Communist countries have similar experiences. I've tried to watch YouTube videos to educate myself about this period that affected my family, my country, and my community deeply. But to be honest, nobody dares to blame the leaders. They all just ... skirt around the issues. So, I want to stare at the truth directly: Why is the economy so bad under Communist control? Is it the corruption, greed, lack of accountability, lack of capitalist self-serving motivation to succeed? China has millions of death under Mao - they burned all farming tools to make steel, and then refused to admit they were wrong, even while millions were starving to death.
https://en.wikipedia.org/wiki/Subsidy_period
Any insights would be greatly appreciated.