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Battle #5 – There Is No Alternative To Capitalism- XLRI Jamshedpur AGAINST Counterpunch by IIM Lucknow

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Ansuman Mishra

@Twisted Minds: Thanks for the appreciation. And appreciating the fact, that our ideas complement each other, I would like to clear out a few things. Capitalism and mixed economy are different, even though a part of it is "capitalist driven". Economic mobility-a very good point made, but upward mobility won't reduce the relative differences between the rich and poor people. Yes, of course, unequal results are a natural outcome of equal opportunity, but when so many people are deprived of basic amenities at birth, how can we even ensure giving them equal opportunities? That is where, the socialist part needs to make a mark. And the capitalist and socialist elements need to complement each other. I beg to differ on the issue that the top 1 percent of the population's earnings has no bearing on whether the bottom 20 percent can move up. That of course might sound logical to a pure capitalist economy but unless the economy ensures proper implementation of social welfare and trickle down of the economic benefits, the situation for the bottom 20% won't improve. And this is necessary. As numerous social evils will persist, if burgeoning economic gaps are allowed to continue. I would like to clear the fact that I never conceded that economic democracy model lacks credibility, I just mentioned, that because it would take time to materialise from an idea to a reality, we will have to wait and watch, as it definitely is a good idea. Moreover, economic democracy encourages innovation and entrepreneurial traits as not all means of production will be socialised. Aren't we ignoring all the misappropriation and fudging of accounts, that goes on in corporates when we say socialist measures are responsible for mismanagement? Aren't we ignoring the bubble phenomenon in capitalist economies? My point was just to make that India, or any other economy as such, needs to keep a right balance between socialist and capitalist elements. The cooperative and mixed models suggested may have capitalistic elements as a component, but definitely not capitalism in its true sense

30 Aug 2014, 10.26 AM

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Comments
 

Ansuman Mishra

@Twisted Minds: Thanks for the appreciation. And appreciating the fact, that our ideas complement each other, I would like to clear out a few things. Capitalism and mixed economy are different, even though a part of it is "capitalist driven". Economic mobility-a very good point made, but upward mobility won't reduce the relative differences between the rich and poor people. Yes, of course, unequal results are a natural outcome of equal opportunity, but when so many people are deprived of basic amenities at birth, how can we even ensure giving them equal opportunities? That is where, the socialist part needs to make a mark. And the capitalist and socialist elements need to complement each other. I beg to differ on the issue that the top 1 percent of the population's earnings has no bearing on whether the bottom 20 percent can move up. That of course might sound logical to a pure capitalist economy but unless the economy ensures proper implementation of social welfare and trickle down of the economic benefits, the situation for the bottom 20% won't improve. And this is necessary. As numerous social evils will persist, if burgeoning economic gaps are allowed to continue. I would like to clear the fact that I never conceded that economic democracy model lacks credibility, I just mentioned, that because it would take time to materialise from an idea to a reality, we will have to wait and watch, as it definitely is a good idea. Moreover, economic democracy encourages innovation and entrepreneurial traits as not all means of production will be socialised. Aren't we ignoring all the misappropriation and fudging of accounts, that goes on in corporates when we say socialist measures are responsible for mismanagement? Aren't we ignoring the bubble phenomenon in capitalist economies? My point was just to make that India, or any other economy as such, needs to keep a right balance between socialist and capitalist elements. The cooperative and mixed models suggested may have capitalistic elements as a component, but definitely not capitalism in its true sense

30 Aug 2014, 10.26 AM