2. CAPITALISM….
AN ECONOMIC AND POLITICAL SYSTEM IN WHICH A
COUNTRY’S TRADE AND INDUSTRY ARE CONTROLLED BY
PRIVATE OWNERS FOR PROFIT, RATHER THAN BY THE STATE:
3. 1. Capitalism is self-regulatory. It is
regulated by market mechanism leading to
several benefits for the economy.
2. It is claimed that the process of economic
growth is faster under capitalism. This is
because the investors try to invest in only
those projects, which are economically
viable as dictated by the Market forces.
4. 3. The capitalist system decides what to
produce and how to produce in consonance
with the forces of demand and supply.
4. It is generally believed that long-term
projects are more productive facilities.
5. Every economic unit tries to adopt a set of
activities, which are in its best interest
5. 1.Capitalism generates inequalities of
income and wealth.
2.The poverty is not acute in absolute
terms, but inequalities remain. Some
economists are of the view that
inequalities reduce aggregate economic
welfare of the society as a whole.
6. 3.The inequalities of income and wealth,
together with the institution of inheritance
leads to wide differences in economic
opportunities.
4. The composition of production in capitalism
follows the pattern of demand. However on
account of inequalities, the pattern of
demand does not represent real needs the
society.
5. It is maintained by critics that capitalism
wastes its productive resources in several
7. 6. In a capitalist economy, it is not profitable to
produce a number of ‘merit goods’ because they
have a high cost of production and large
sections of consumers are not able to pay for
them.
7. In contrast, the capitalist system may be
producing a number of goods and services,
which are positively harmful for the society.
Business units produce only those goods and
services, which are profitable to do so even
when they are harmful such as cigarette and
tobacco.
8. FAILED CAPITALIST STATS
Indonesia (66% of the country lives on less than 2 dollars a day)
Somalia (free markets to the extreme...including slaves, weapons,
drugs),
Afghanistan (as Somalia),
Nigeria (2nd highest GDP in Africa as well as most capitalist trade
policies on the continent, 85% of country lives
under a dollar a day),
9. America
Ireland,
Turkey,
Spain,
Portugal
have all had multi-billion dollar bailout's. Every time the
stock market crashes.
10. ISLAM & CAPITALISM
Capitalism cannot prosper or grow without
interest, usury and monopoly.
The capitalist system is always exposed to
periodic crises resulting from depression caused
by low wages and the scantiness of world
consumption in relation to increasing production.
Abnormal Profit.
All of which were prohibited by Islam about one
thousand years before the existence of
capitalism.
11. CONCLUSION
Yes, it has turned into ‘Curse'.
53% people of this survey, say that
Capitalism is bad because,
Labor exploitation
Economic inequalities
Unsafe food and medicine
Pollution
Monopolies
Discrimination
12. Capitalism has come to mean bending rules
and exploiting loopholes,
Buying politicians,
Hiding money in foreign bank accounts to
avoid paying taxes,
Sending millions of college students into
debilitating debt, and covering business failures
with citizens’ money.
All of these shows the failure of the capitalist system
Sources….
Debate.Org…. By Report Post….
