Communism failed because although it could, in theory, help to equalize the distribution of income / assets it runs afoul of mankind's key motivation: GREED.
Greed is good.
Greed led to the development of for-profit business ventures long ago, to explortion, to the development of industries.
All done by people wanting to make a profit.
So long as we're rulled by Mammon an economic model based on greed, i.e. capitalism, seems the most viable for we in the developed countries.
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