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Should we head towards capitalism now?

Date: 05 Sep 2016   Posted By: Aditya Mohan     Group: Government    Category: Central Government   

Our country has been under mixed economy for ages. The current state of our nation isn't much better than the time of our independence. Whereas the western capitalist nations are taking gigantic leaps towards development. Shouldn't we take capitalism as an inspiration then?
Moreover a capitalist nation hands over more powers and rights to it's citizens, thereby cutting down inequalities. In present situation I assume that Capitalism is the only savoir.
Experts of economy and administration: do respond.

Wondering if India should move towards capitalism? Check out responses from experts on this page.

Author: Mahesh    07 Sep 2016      Member Level: Gold     Points : 4  (Rs 4)    Voting Score: 0

Mixed economy is always better option for the society.

Capitalism can be good for the society if the people in all stages of the society are intelligent enough. However india being the country where people are still driven by the status, emotions and the feelings, it'd not be going well for such society. Also the capitalism is good only when the resources are good enough and people have means to get them. If they don't find the means for lot of things that capitalism offers, then it'd be nothing but broken society with frustration.

As you can see from the example of united states and other first world nation where capitalism has lead to frustration among teens, broken social values. It'd be fair to say that western culture has offered nothing concrete solution with implementation of the capitalism.

The reason being communism is more of hypocrite and sad state to live in. Also the amount of suffering increases in the communism. And it'd be not good for the society where people have suffered due to lack of freedom of speech and restrictions. China and Russia can show you example of how bad economy can get with communism.

Mixed society is always a good solution because it can have the meta community within itself. For example communism can be included within some religious groups. And they can apply it's effect within that specific region and set of people. Same can be done with the capitalism.

Completely adopting specific social structure would always cause it to break down completely when recession or economic and social depression happens.

Author: Venkiteswaran.    08 Sep 2016      Member Level: Diamond     Points : 3  (Rs 3)    Voting Score: 0

Any 'ism'-either Capitalism or Socialism have their advantages and disadvantages.
Actually speaking, down to earth, there is no hundred percent Capitalism no hundred percent socialism. That will not be practical. Even in US supposed to be the example for free enterprise, certain sectors have the government involvement.
In India those key areas that may fundamentally affect the public, have government involvement. Hence it is mixed economy. While capitalism exploits people in one way, the monopolistic single party socialism practiced in certain countries exploit or subjugate the people in some other way.
The mixed economy practiced in India is a benevolent model, not allowing extreme exploitation or extreme indulgence
Fortunately or unfortunately, India is trending towards capitalism in the recent period.

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