What are the pros and cons of command economy?

Pros

A sense of community within the economy

Income equality

Potential to get things done very quickly

Cons

Little innovation

No competition within the economy

Firms will have a hard time competition in the world market

The quality of the good are detrimental

Inefficient allocation of resources

Lack of Freedom

Lack of personal gain

Generally, there is a lower standard of living when compared to a free market economy