''capitalism carries its own seeds of destruction"-MARX said, your comments.
As such Government of America is rightly providing bailout package to such companies and banks to maintain health of overall financial system. American government is slowly buying equity of the company or extending loan at lower rate and on long term basis.
In disguise one can say that America is nationalizing banks and companies suffering from liquidity crisis but not directly blaming privatization, globalization and extension of abnormal freedom to business giants.
Time has however now come to ascertain the importance of restriction and regulation of free market, nationalization of certain core sector in preference to leaving the same to whims of private entrepreneurs and take immediatel ...more
And one thing about capitalistic societies especially in heterogenous environments like India is that capitalism breeds extremes- in wealth & resources- so that allows some ppl to buy wifey an airplane, whereas others are left high & dry not even able to afford 2 square meals a day.
That leaves the locale very prone to terrorism. TErrorism, ethnic violence, communal strife- are characteristics only found in capitalist countries. Not a SINGLE Socialist country had those traits.
Capitalism is OK, as per how Adam Smith defined it- but it has 3000% more assumptions than Socialism. Marx's only pre-conceived assumption is that people can be made egalitarian. Capitalism on the other hands assumes:
1. Perfect information- every consumer is informed of every seller and every aspect of the product sold - and that sellers would give 100% factual info to consumers.
2. PERFECT COMPETITION- no seller has any more levereage than the ...more