Capitalism with human face ?

@alokn99 (5717)
India
October 11, 2008 1:42am CST
In the light of the recent global financial turmoil and the near recession like situation, we are constantly hearing the terms Capitalism with a human face"" being the way going forward. Are you a critic of the word "capitalism" as understood in today's context of greed and power ? Do you think that we can have a form of capitalism with a human face ?
2 people like this
4 responses
@balasri (26537)
• India
20 Oct 08
Capitalism with a human face is a uniform growth of all sections of the society.I like capitalism provided it makes agriculture too a industry.As acquiring farm lands for industries they can acquire and do modern agriculture in a large scale as an industry.
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@alokn99 (5717)
• India
21 Oct 08
We would all like capitalism in a way which brings about uniiform growth Bala. But does that really happen in today's context ? Thanks
@alokn99 (5717)
• India
22 Oct 08
It's because these leaders too are only thinking about money and power.
@balasri (26537)
• India
21 Oct 08
No it is not happening.It has to happen.I just cannot eat peacefully in a restaurant after seeing the young hungry faces at the platform nearby.I don't understand why the Government and the ones who are running it don't have the conscience.The poor of India don't ask for the sun and the moon.What they ask is the right prize for their produce.They will be happy with three square meals a day.I just cannot understand how our leaders can talk this big without a tinge of shame and guilt.
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@mimpi1911 (25464)
• India
20 Oct 08
This is a tough one for me, Alok. And even at the risk of entering into something I do not know much, I would like to comment. Today we are seeing what I would call reckless capitalism - merciless capitalism. This is extreme, do or die kind of capitalism. This is not good for the society and we need to have a balance. Luckily our economy is not reckless as yet. India have a much balanced kind of economy, which is Capitalism with a human face. This again is not capitalism at its best and is so much atuned to socialism. Here socialism and capitalism go hand in hand. we have been witness to this human face of privatization. And the recent laid off and subsequent absorption of the Jet employees is another instance where capitalism empathy was at its best. Capitalism with ethics, therefore, is capitalism with a human face. With more and more leaders setting instances of charity, donation, concern, capitalism has shown a softer face, no doubt. Having said this, its not capitalism in the true sense but when it's rather a harmony between socialism and capitalism (which is dominant in India, may be a new term, ,socio-capitalism, ) would ensure growth all round. So, I feel, India and a few other countries have a form of capitalism with humam face, as you were saying. And now with the recession and slumps capitalism would definitely change its definition to a softer one. Thanks.
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@alokn99 (5717)
• India
20 Oct 08
It isn't as tough as that Mimpi and your great response is an indicator of that. Capitalism as we generally know it from what we see going around the world today seems to be one which has flexible ethics or none at all. Some examples that i may cite War in the attmept to take up future development, to control oil Villages destroyed in lesser developed countries, where human life has no value People sacked overnight to show profits on the books therby improving share values There are many more Mimpi and this has made us humans think that everything has a price. So in the true sense in today's scenario capitalism hardly has any human face. But it's only when a crisis goes through and we realise that development,growth,profits are possible with individual contribution together making a team that we realise the value of the people behind and affected buy it. The wake up call brings the corporate forward with a human face to take up the causes as well. But the numbers are few and overshadowed by the ones with greed. What you say about India is vey true, and we have beend fortunate in having adopted something between socialism and capitalism and it has been so often that we notice the ugly face of greed,power and money showing its ugly face we have see the human face behind it as well. We most certainly need the soft side of this else i can only imagine what the social,wealth gap will result in. In fact its unthinkable. Thanks
@mimpi1911 (25464)
• India
20 Oct 08
I agree totally. But this major slump in global economy has had devastating effect on capitalism. Some European countries and India too are socialism at heart even though they are endorsing capitalism. What we want is western-style market economies withut the unhappiest aspects of capitalism. We want the growth, dynamism and flexibility of the free market without the ugly side like large-scale unemployment, homelessness and extremes in wealth and poverty. But that's is not possible. As you have said, that would hit the basics of capitalism and its on going war with socialism/Marxism. But certainly, this green face of capitalism has to be silenced and I am sure the recent turmoil take care of it. Only the other day, I was hearing how hundreds of fresh graduates are opting for government services exams. Their dream of pursuing investment banking and going abroad has been shattered with the recent downfall. Capitalism has certainly brought in fear even among the most enthusiast of citizens. That's the crude side of capitalism we were talking of!
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@James72 (26790)
• Australia
20 Oct 08
Jeez alok, this is a brain cell strain after the day I've had I can tell you! lol. The continued existence of any political doctrine in its intended form is wholly determined by it's level of purity in my opinion. Socialism, Capitalism, Communism etc; each and all arguably have their respective merits; but without complete and utter belief in ALL aspects of each by every single member of the society concerned, then they are destined to fail. "Capitalism with a human face" is a strangely relevant statement to use actually. A human face itself is multi-faceted, always changing, influenced by emotion and environments; and varied in degrees of perfection! Is not Capitalism open to the very same factors in a round about way? So from this perspective maybe we already do!
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@alokn99 (5717)
• India
21 Oct 08
Considering the circumstances under which you have responded James, the response is really appreciated and thanks. Multi faceted capitalism is exactly what it is today, changing to suit and benefit a few. but what it seems to lack atleast most of the time is the humanness or the ethics. Or is it that ethics also get to be as multifaceted and redefinable as per the whims and fancies of a few.
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@ram_cv (16513)
• India
11 Oct 08
The way word Capitalism is coined, it cannot have a human face. Capitalism has only one face and that is the green face of money and greed. Socialism is the human face of economics. Unfortunately, people have mixed socialism and communism and have assumed that Socialism is bad. I think last decade saw the collapse of Communism, this decade might see the collapse of Capitalism and then what is left would be Socialism. Cheers! Ram
@alokn99 (5717)
• India
11 Oct 08
This then may be the transition from Capitalism to Socialism that may seem to make us feel that Capitalism has a human face. Thanks for the response. Appreciate it.
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