Pros:
Tech per turn is doubled
Market commissions replaced with a 5% VAT that works in the same way.

Cons
Humanitarians stop every attack (ofc)
Oil rigs produce nothing. (let it stay in the ground)
Burning oil for private market units is impossible (Carbon cap)
Exploring gains -50% (nature shouldn't be exploited)
-40% food production (Organic, non-GMO)
Teching is restricted to non-warfare techs, Spy, SDI, Weapons, Warfare, Military and MStrat cannot be teched or bought (self-exlainatory)
Teching is random, among the non-restricted techs, you cannot chose what to research.