Most of the countries in the present day economy are working based on Capitalism. Is Capitalism leading the human community on the right track? Is it distributing the world resources equitably among the people? Are we leading towards a real growth in world economy? These are the questions which are popping up after the serial failures of economies, particularly western, in the recent couple of years.
In simple terms Capitalism means private ownership of means of production. It enables creation of goods and services for profit in a competitive environment. There is no doubt that competition always leads to better productivity and efficiency. But, the recent serial failures clearly demonstrate that the profits are encashed by the capitalists and when losses occur governments are bailing out these big corporate giants with public money. It is increasing the burden on the common man and increasing the gap between the rich and poor.
