Capitalism is a very Flawed System but the others are so much worse

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39 comments Page 1 of 4.

Balu said:   1 decade ago
Capitalism and Socialism are two opposite economic environments. Each economic environment has its own flaws in aggregate view, but a good economic environment is one which has less flaws when compared to other.

Difference: Socialism is complete control of government over individual and capitalism lets an individual to his free will. This clearly implies that socialism is a breach of human rights and freedom thus having no scope for the word independence in a socialistic nation. To ensure human rights we must employ capitalism.

Problem with capitalism: There are problems with capitalism too. Individuals can thrive natural resources, the increase in the gap between rich and poor.

Solution: Natural resources are those which belongs to everyone. So government should control the areas which are essential for survival like food and medicine.

Government should give subsidies to those who are really poor. A developed country is a country in which citizens are well developed. So it is a chance given to citizens to develop or not. If citizens are reluctant for development, government can't develop. When government is giving subsidies poor people are very happy to live like poor. So it is left to the poor whether to leave their poverty by working or not. If they can't work, government is still giving them subsidies, they can use the previliges but they must not remain in poverty so long.

And finally government should give equal opportunity to both rich and poor. It should not concern more about rich or poor. Both should be equal before government.

The most important of all that government must do is to educate its citizens about their rights and law.

Socialism + Democracy is joke but Capitalism + Democracy is an act of preserving human rights. Indian system (mixed economy) is a good system but it must be more capitalistic to be excellent. I think the two main problems with India are uneducated poor and the delay in taking decisions in government.

I am uninterested in commenting on nations but here is fact. China is now facing sex ratio problems. The ratio of women : men is deminishing due to its policy one or none.
(105)

Faizi said:   1 decade ago
Capitalism also have some of the flaws but as far as India is concerned, capitalism is best to support its economy and do wonders in providing employment to the major section of Indian population. Socialism sounds good as it promise equality but here in India nepotism and corruption being the most anchored part of the system hardly let this promise fulfilled.

Capitalism promotes industry, entrepreneurship, innovation and creativity. It develops an environment of fair competition which result in better products and services to its customers. Monopoly, one of the outcome of capitalism which most of the people fear about can be checked with the proper involvement of the government (at least we can expect this much form our patriotic policy makers to come up with some good policies and not set up cartel with some organization to fleece poor Indians).
(89)

Ravinder Singh said:   1 decade ago
Capitalism can be good for the nation if the government running that nation doesn't favour the rich industrialists who are acquiring good contol in the market because it can widen the gap between rich and poor. On the other hand socialism can be stressed side by side to favour lower class people which are deprieved sections of the society. On the other hand China is a good example of communalism because the nation is progressing fast on its way to become a developed nation. Thus it simply implies that a nation can definately progress in communalism if the government cares for its people and plays an important role in the development of the nation unlike the countries such as myanmar etc. I don't agree with what Mis Anisha has said about the riots taking place in the country. Small things happen everywhere and they can be controlled. And I have read from a guy above that China is having more population than India but still its progressing fast thats okay but its not the only reason because the China is three times larger than India in terms of area and it has little more population than India. The communist government there has strictly made the rules for families to not to have more than one child and with this rule they have successfully controlled the increasing population there whereas in India this rule can never be implemented in a democracy because the politicians only see the votebanks here and nothing else. This will result in the declining of resources and so lot of inflation. So we see here the communist government is better than democratic government for the progress of countries like India.
(60)

Shantanu Kandwal said:   10 years ago
In my opinion there should be different form of government over different country according to the condition required.

For ex:

Consider INDIA what's the main problem that it face?Corruption?reservation? Here whole of governance system is infected deep, infested my some corrupted ministers, for the welfare of our country it is mandatory to establish capitalist form of government so every single citizen has right to raise a voice against strong leader, practising corruption often.

BUT,

If we consider country like LIBYA it is quite obvious that a communist government will get spoiled if established as home wars are going on. So in that case a social form of government rather than capitalic or dictaric is needed to handle the deteriorating condition of country.
(44)

Ramakrishna said:   1 decade ago
In my opinion both capitalism and socialism has it's own flaws, if a country is a capitalism based company, the main aim of system is to earn profit, if it is communism the people are restricted to do the things they want, here the knowledge and power of individuals is restricted. In capitalism there is no such restrictions the individuals are doing wonders, for example take Dhiru bhai ambani, how this great man created the wealth, jobs to many graduates, etc. It is not possible in communism. So whatever may be the system when there is no awareness in the people to choose the government that system fails.
(43)

Chrissypinto said:   1 decade ago
Socialism is the opposite of capitalism and is problematic in its own right. If there is redistribution of wealth and social equality there is no profit motive. Even if your creative and work hard you'll probably still earn the same amount as a person whose not creative or lazy. Without the profit motive the economy stagnates due to lack of innovation and lethargy.
(37)

Anuj Agarwal said:   1 decade ago
The impact of having a particular type of economy largely depends on the distribution of income. In the starting phase its good to have socialist economy so that the common interest of society at large is taken care of and when distribution evens then some degree of capitalism should be introduced and ultimately the market forces will themselves arrive at a mix between capitalist and socialist that is appropriate. Having a complete capitalist economy will widen the income gap and various kinds of malpractices will come into existence, as each one will try to gain more because of intense competition. Whereas having a complete socialist economy will curb the freedom of the individual and dictatorship of the government Officials will creep in. Further the economy will not work to its full potential. "Ambani, Tata, Birla would never had been what they are if socialist model was followed.

So, capitalism is a flawed system others being not that worse.
(30)

Sheru said:   1 decade ago
The arguments against capitalism are famous that it cares less for the society more for the individual,it increases the gap b/w the rich and the poor.But look at the positive sides.Capitalism fosters competition.The basic nature of financial autonomy gives organoization the motivation to excell and grow.In today's world of globalization where companies are doing business in different parts of world capitalism will be the best system to insure their smooth operation.This healthy competition will give better and better products and services to customers,at the same time giving the profits to those who deserve.

A comparison is always made with socialism while discussing capitalism.Socialism cares more for the society and less for the organizations.So while it might look more beneficial to the general public it sucks the motivational energy needed for a company to grow. A company's actions are highly influenced by the socialistic attitude of particular country.

So the point is no system is perfect.Capitalism and socialism have their own advantages and disadvantages.what we need is a blending of both allowing a socialistic approach in basic health and education sector or in areas of general public interest and capitalism in highly capital intensive industries like energy and power sector.
(27)

Bel said:   4 years ago
But real socialism has never existed because the imperialist US and its allies doesn't allow it to develop freely, they fight against it in all fronts and divert its course.
(26)

Anisha said:   1 decade ago
Capitalism is a flawed system but every system has its flaws. Example-in communism everything is controlled by government so sometimes people are forced to things which they are against of. Example in china nowadays there are revolts taking place were people are revolting against the government as they are not satisfied with it. There is no transparency in media so world dosen't know about the happenings in the country.
(26)


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