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Capitalism

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Capitalism

  1. 1. CAPITALISM IS A CURSE Presented by  Ejaz Ali
  2. 2. CAPITALISM…. AN ECONOMIC AND POLITICAL SYSTEM IN WHICH A COUNTRY’S TRADE AND INDUSTRY ARE CONTROLLED BY PRIVATE OWNERS FOR PROFIT, RATHER THAN BY THE STATE:
  3. 3. 1. Capitalism is self-regulatory. It is regulated by market mechanism leading to several benefits for the economy. 2. It is claimed that the process of economic growth is faster under capitalism. This is because the investors try to invest in only those projects, which are economically viable as dictated by the Market forces.
  4. 4. 3. The capitalist system decides what to produce and how to produce in consonance with the forces of demand and supply. 4. It is generally believed that long-term projects are more productive facilities. 5. Every economic unit tries to adopt a set of activities, which are in its best interest
  5. 5. 1.Capitalism generates inequalities of income and wealth. 2.The poverty is not acute in absolute terms, but inequalities remain. Some economists are of the view that inequalities reduce aggregate economic welfare of the society as a whole.
  6. 6. 3.The inequalities of income and wealth, together with the institution of inheritance leads to wide differences in economic opportunities. 4. The composition of production in capitalism follows the pattern of demand. However on account of inequalities, the pattern of demand does not represent real needs the society. 5. It is maintained by critics that capitalism wastes its productive resources in several
  7. 7. 6. In a capitalist economy, it is not profitable to produce a number of ‘merit goods’ because they have a high cost of production and large sections of consumers are not able to pay for them. 7. In contrast, the capitalist system may be producing a number of goods and services, which are positively harmful for the society. Business units produce only those goods and services, which are profitable to do so even when they are harmful such as cigarette and tobacco.
  8. 8. FAILED CAPITALIST STATS  Indonesia (66% of the country lives on less than 2 dollars a day)  Somalia (free markets to the extreme...including slaves, weapons, drugs),  Afghanistan (as Somalia),  Nigeria (2nd highest GDP in Africa as well as most capitalist trade policies on the continent, 85% of country lives under a dollar a day),
  9. 9.  America  Ireland,  Turkey,  Spain,  Portugal have all had multi-billion dollar bailout's. Every time the stock market crashes.
  10. 10. ISLAM & CAPITALISM  Capitalism cannot prosper or grow without interest, usury and monopoly.  The capitalist system is always exposed to periodic crises resulting from depression caused by low wages and the scantiness of world consumption in relation to increasing production.  Abnormal Profit. All of which were prohibited by Islam about one thousand years before the existence of capitalism.
  11. 11. CONCLUSION Yes, it has turned into ‘Curse'. 53% people of this survey, say that Capitalism is bad because,  Labor exploitation  Economic inequalities  Unsafe food and medicine  Pollution  Monopolies  Discrimination
  12. 12.  Capitalism has come to mean bending rules and exploiting loopholes,  Buying politicians,  Hiding money in foreign bank accounts to avoid paying taxes,  Sending millions of college students into debilitating debt, and covering business failures with citizens’ money. All of these shows the failure of the capitalist system Sources…. Debate.Org…. By Report Post….
  13. 13. THE END THANKS……

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