Bread and butter are the basic requirements of every person. No one can keep body and soul together without eating, drinking and breathing because man is a serf to his physical needs.
Without fulfilling fundamental requirements no one can even dare to think about sacrificing ones resources for satisfying the needs of others in this era of indifference and materialism. But to struggle for accomplishing ones necessities in the presence of inadequate sources is not the dilemma of our society. The tight spot of the contemporaneous humanity is that the loaded countries and the flushed cuckoos wallowing in pelf and plenty are plundering the already deprived ones. This exploitation has separated the world into potent developed and weedy developing countries and the populace of the globe into rich and poor categories. This unwarranted economic system based on unfair profiteering has given birth to frustration and a sense of deprivation among the cash-strapped victims of maltreatment.
Capitalism is a dominant economic system that is working in mainstream of the countries of the world. The acquisitive configuration of entrepreneurship is based on spend more and earn more. The ultimate result of this laisser-faire is the concentration of the world resources within a little throng of greed-ridden souls and the skinflint dominant countries. The logical end of this skinning and misappropriation would be the folks scrapping the bottom of the barrel would pounce upon the well-heeled crocodiles whom they blame nakedly for their miserable condition. The fleecing spoliation and its retaliation are bound to create law and order situation because the underprivileged utilize weapons to snatch their food. This can result in chaos and commotion all over the world with the passage of time. This exploitative economic system is the basic reason for extremism and terrorism in the present-day world and its perpetuation would further flare them. Therefore, there is crying need to restructure the international economic system based on just universal principles that is mandatory for survival and peaceful co-existence of human race.
According to Encarta Dictionary, “Capitalism is an economic system based on the private ownership of the means of production and distribution of goods, characterized by a free competitive market and motivation by profit.” This financial system not only results in leg pulling and cutthroat competition but also generates callous attitude and hatred in the society because everyone would use his energies and resources to outnumber and rout his competitors. It ultimately deprives the stripped of their bare resources and results in pumping of substantial means in the hands of the diamond-studded. Thus the space between the plenteous and the out of pocket broadens with each passing day. The affluent rose to the crest by pushing the starved to the trough. This gripping monetary structure with predatory core results in deep-seated social stratification.
In capitalistic industrial countries the governments levy heavy taxes on the earning people. Thus revenue generated is spent on public welfare. The considerable returns collected are also distributed among the unemployed and the other deserving ones. Due to strict legislations and strong institutions the number of tax evaders is just the tip of the iceberg. Thus these states accomplish their responsibilities by bridging the yawning gap between the fat cats and the poor as shithouse rats. In preponderance of the developing countries capitalistic economy is ruling the roost but the fiscal picture is tremendously bleak. The status of institutions is enormously miserable and the personalities having surplus capital invest more to churn out utmost profit. While the despotic and burglar rulers who are not accountable to anyone do not bother to fulfill the requirements of their public. They don't slide out of their self-created casing of selfishness. Thus in these countries with each passing day the unpaperable chasm between the well-off and the down and out broadens because of the negligent attitude on the part of the government. This has resulted in the accumulation of resources within a teeny-weeny bunch of men on a good wicket in the developing countries.
What plagues Pakistan ? Although it is practicing capitalistic economy but the number of tax evaders is as increasing as atmospheric pollution and the number of tax payers is as low as integrity in a scam-spattered country. The feudal lords in the assemblies, army generals and top bureaucrats use their strong connections to establish business empires. They are also hunky-dory with the authorities that helped them in tax evasion, getting undue contracts and acquiring import permits, etc. Economic disparity was the fundamental reason for the dismemberment of Pakistan on December 16, 1971.The renowned economist Dr Mehboob-ul-Haq revealed in his speech in Karachi that 20 families belonging to West Pakistan were the major owners of the shares in Pakistan . This was mainly sparked by capitalistic economy and the negligible role of the state to monitor undue favors to the bigwigs.
Interest is another curse to pillage the already circumscribed resources of the cleaned out. In Pakistan the interest imposed on the flat broke is much more than on the well-off. The farmers obtain loan from the banks on soaring interest rates while the industrialists get finance for the establishment of industries at much lower charges. It seems that this system has been introduced by the Jewish holding the reins of the economy of the world. They are the ultimate beneficiary of the interest based fiscal system. It is irony that the Muslim countries have stepped in the shoes of the West by adopting this sullied pecuniary system. Ironically well-endowed citizens of these countries who curse interest as against tenets of Islam deposit their capital in the western banks that carry out interest based economy. By using the capital of the Muslims the interest earned through this commerce is used by the West to nourish their Brainchild Israel and to extend their hegemonic designs in the world.
