This post is a response to the question “Do you believe the stock market to be representative of the overall economy? Why so?” by @jacewat.
Totalitarianism has a few advantages as a form of government but the cons largely outweigh the benefits.
Within this absolutist form of government, one person or group has control over essentially everything. This means that they can enact their agenda immediately and without resistance from other political parties or from the people. To put it simply, totalitarianism is very fluid with change and has remarkable control over it.
A totalitarian government can enact change at incredibly rapid rates, especially compared to democracies or republics which undergo multiple gates to approve of any form of change. Imagine a car speeding down the highway and it can stop on a dime and do a full 180° turn. A totalitarian society is that a car and its government can make it change direction in the blink of an eye. Whether that car survives the rapid change in direction is a whole other conversation.
Another aspect of a totalitarian government is true equality for all of its citizens. Some may interpret this as an advantage but others may see it as a disadvantage, so this is why I put it in between my discussion of pros and my discussion of cons. Rich or poor, old or young, urban or rural, totalitarian regimes will make you all equal with one another. This would greatly advantage those struggles but will certainly harm those who worked hard for their economic status.
To reiterate again, in totalitarian governments, one person or group has complete control over nearly every aspect of life. Regarding the cons of this form of government, if a person or group with malicious intentions takes control of the government, then the entire nation will suffer.
Another downside to these regimes is the worrying lack of individualism. With such an equal society, no citizens will stand out. Everyone. Will. Be. The. Same. Without individualism, creativity and the nation’s general happiness takes a massive toll.
The government has complete control over the economy which means no competition. A lack of economic competitiveness harms the consumer because the prices for goods cannot keep up with goods in free markets.
A good response to the question posed in the link but just a small observation that you probably need to change the name of your link as it doesn't tie up to the answer ;-)