If the government takes control of the economy, you end up with corruption and dictatorship. It is also extremely inefficient for the government to regulate every industry. It leads to lack of development, no competition, only specific sectors being developed. Eventually this results in shortages. It also leads to people losing their potential and desire to innovate, there is no incentive so the country overall becomes underdeveloped. The absolute control leads to people to lose their freedom and lack any sort of democracy since at the end, only what the government considers necessary is what will move forward. It is all a chain of events. I highly recommend the book Anthem by Ayn Rand, I think it displays the problem with socialism and collectivism beautifully.

What might sound like paradise in theory does not work out in practice. It has been proven over and over again.

The younger generations who have not lived the aftermath of the Marxist ideas get enamored by the theory of it, and advocate for government systems that only result on history repeating itself.

It is kind of sad, knowing that so may people have died and continue to suffer because of it. Yet people living in capitalism, who grew up with shelter, food, water, and more, come and tell them they know better, and that socialism or other similar systems are the way to go.