>>2835474>So like when the economy is mostly owned and operated by a few familiesThe world's largest companies are publicly traded multinational corporations. They are controlled by global shareholders and managed by professional executives, not by a single or several founding families. Even though they exist, the money (both speculative and real) generated by these multinationals is greater than their size. If the world economy still limited on families, we would still be in the Early Modern Age.
>>2835477>First of all none of the "socialist regimes" like USSR, Cuba, North Korea were/are actually socialist. In short they can be described as capitalism managed by the state with minimal internal competitionSocialism is the transitional phase between Capitalism and Communism. Or in this case, Vanguardism, since, as you said, these countries were not historical industrialized capitalist countries (Russia was one of the last European countries to ban Feudalism) and they rushed industrialization through a heavy bureaucracy that further delayed the socialist transition process.
>The incentive to increase production for its own sake doesn't exist, but rather society decides what to increase and not increase based on social needs without any constraints placed by capital. The incentive to innovate is always there as the desire to reduce labor time is everpresent. Furthermore, automation would rapidly increase as there is no longer any need to prevent unemployment. Wasteful and harmful industries would also be shut down, and there would be no "line must go up" necessity to maintain such industries as it exists in capitalismIf production were guided solely by social needs, socialist countries should have surpassed capitalist countries in consumer goods and material abundance, since they prioritized precisely those needs. In practice, however, they generally produced less and faced shortages more frequently, only being surpassed by other countries where there was no even and post-Neolithic serfdom such as those in Africa, though they had modern technology (guns), they still used it for Neolithic purposes (Slavery).
(Rule 10)