This in fact happened in Russia in the early 20th century. The results were, among other things: - allocation of resources happened through centralized planni

This in fact happened in Russia in the early 20th century. The results were, among other things: - allocation of resources happened through centralized planning committees of credentialed supposed experts, rather than organically by decentralized market forces checked and balanced automatically via competition among the actors, leading to huge economic inefficiencies. Perpetual shortages of consumer goods, and at times even basic foodstuffs. 10+ year waits to get a car. Hours-long lines for bread. - a massive increase in corruption, bribery, and influence trading (collectively known as блат, "favors"[1]), as people turned to unofficial backchannels to further the economic interests of themselves and their organization, since there were no effective legal channels to do so anymore; - concominant erosion of any notion of popular respect for doing things properly or legally. There simply was no legal way to advance your own economic position. - The expansion of an institutionalized system of severe punishments to force people to work productively at their jobs anyway, absent any possible reward.[3] - Eventually, economic and technological stagnation[2]. With no legal economic reward possible for working harder, trying new things, or improving conditions, why bother? Your salary is the same if you succeed, and you'll be punished severely for counterrevolutionary activity if you fail. [1] https://en.wikipedia.org/wiki/Blat_(favors) https://en.wikipedia.org/wiki/Blat_(favors) [2] https://en.wikipedia.org/wiki/Era_of_Stagnation https://en.wikipedia.org/wiki/Era_of_Stagnation [3] https://en.wikipedia.org/wiki/Gulag https://en.wikipedia.org/wiki/Gulag