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Battle #5- There is no alternative to Capitalism- IIM Lucknow FOR

Comments
 

umang K

Very accurate and valid points. The debaters seem to have done good research and have put forth persuasive arguments.

29 Aug 2014, 12.50 AM

Manna Pradhan

hmm...

Very well articulated.. societies should always promote the human spirit of achievement and excellence, not stifle it... the article accurately highlights the benefits of free market capitalism

29 Aug 2014, 01.20 PM

Abhishek Deb

Good piece of article, totally expected out of students from IIM L. Great points and wonderfully highlighted..:)

29 Aug 2014, 09.45 PM

Debalina Haldar

an 'unlikely uncommon quintessential' engineer

The pinch of sattire actually hits you hard. Very well written, Swati and Reshal

30 Aug 2014, 06.56 AM

Debalina Haldar

an 'unlikely uncommon quintessential' engineer

The pinch of satire actually hits you hard. Very well written, Swati and Reshal

30 Aug 2014, 06.56 AM

Anurag Ghosh

A VERY SIMPLE GUY........THOUGH HAVE SOME GREAT EXPECTATIONS FROM LIFE......JUST LIVING MY LIFE FOR THEM..........HOPE THEY COME TRUE ONE DAY.........

The authors here have emphasised on " record of market-oriented economies in delivering material well-being – in lifting living standards, broadening choice and allowing people to live longer, healthier lives." But it is an intriguing fact that these developments cater to only a meager fraction of population . Data suggests that there has also been a worrying polarization of wealth around the world. Last year the top-earning 20 percent of Americans received 49.4 percent of all income generated in the USA, compared with just 3.4 percent made by the bottom 20 percent of earners. This ratio of 15:1 is approximately double that of 8:1 in 1968. Unfortunately, the free market encourages this wealth divide greatly .

31 Aug 2014, 02.58 PM

Nabeel Salim

Hi Swati....I would like to raise a few pints against capitalism and would be happy to get some insights from you on these 1. Going a bit historical, capitalism has been blamed to propel the infamous world wars. Competitive struggle for profits by the companies for filling their coffers by supplying the huge armoury to the states cannot offset the innumerable lives lost. 2. “On the other hand, working for one’s own interest provides a powerful incentive to work-hard in the long run” - How do you explain the economic crises that ruin countries at times? Wasn’t the sub-prime crisis the self-greed of the capitalist economy? 3. How do you explain the applicability of a capitalist economy for India which accounts for 22% of population in poverty (taking a very loose definition of poverty line to bring down the numbers)? Doesn’t your comment about the ‘self-interest of the people in a capitalist economy’, actually widen the economic and social gap further? The 11th as well as 12th Five year plan has focussed on inclusive development to bring about an equitable society where the “Right to Life (Article 21) is strengthened and not eroded.

31 Aug 2014, 10.41 PM

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Comments
 

umang K

Very accurate and valid points. The debaters seem to have done good research and have put forth persuasive arguments.

29 Aug 2014, 12.50 AM

Manna Pradhan

hmm...

Very well articulated.. societies should always promote the human spirit of achievement and excellence, not stifle it... the article accurately highlights the benefits of free market capitalism

29 Aug 2014, 01.20 PM

Abhishek Deb

Good piece of article, totally expected out of students from IIM L. Great points and wonderfully highlighted..:)

29 Aug 2014, 09.45 PM

Debalina Haldar

an 'unlikely uncommon quintessential' engineer

The pinch of sattire actually hits you hard. Very well written, Swati and Reshal

30 Aug 2014, 06.56 AM

Debalina Haldar

an 'unlikely uncommon quintessential' engineer

The pinch of satire actually hits you hard. Very well written, Swati and Reshal

30 Aug 2014, 06.56 AM

Anurag Ghosh

A VERY SIMPLE GUY........THOUGH HAVE SOME GREAT EXPECTATIONS FROM LIFE......JUST LIVING MY LIFE FOR THEM..........HOPE THEY COME TRUE ONE DAY.........

The authors here have emphasised on " record of market-oriented economies in delivering material well-being – in lifting living standards, broadening choice and allowing people to live longer, healthier lives." But it is an intriguing fact that these developments cater to only a meager fraction of population . Data suggests that there has also been a worrying polarization of wealth around the world. Last year the top-earning 20 percent of Americans received 49.4 percent of all income generated in the USA, compared with just 3.4 percent made by the bottom 20 percent of earners. This ratio of 15:1 is approximately double that of 8:1 in 1968. Unfortunately, the free market encourages this wealth divide greatly .

31 Aug 2014, 02.58 PM

Nabeel Salim

Hi Swati....I would like to raise a few pints against capitalism and would be happy to get some insights from you on these 1. Going a bit historical, capitalism has been blamed to propel the infamous world wars. Competitive struggle for profits by the companies for filling their coffers by supplying the huge armoury to the states cannot offset the innumerable lives lost. 2. “On the other hand, working for one’s own interest provides a powerful incentive to work-hard in the long run” - How do you explain the economic crises that ruin countries at times? Wasn’t the sub-prime crisis the self-greed of the capitalist economy? 3. How do you explain the applicability of a capitalist economy for India which accounts for 22% of population in poverty (taking a very loose definition of poverty line to bring down the numbers)? Doesn’t your comment about the ‘self-interest of the people in a capitalist economy’, actually widen the economic and social gap further? The 11th as well as 12th Five year plan has focussed on inclusive development to bring about an equitable society where the “Right to Life (Article 21) is strengthened and not eroded.

31 Aug 2014, 10.41 PM