Capitalism has gone crazy !

Updated: Mar 28, 2020

I am questioning a fundamental concept in this blog.

The question is about form of government selection. This question hit me late but I am glad atleast it did. It was during a beautiful semester spent in The Fletcher School of Law and Diplomacy. I took this great course on International Relations- "Power in World Politics". We questioned really deep on the status quo of hard power, economic power and off course my favorite soft power. This was the time when I had witnessed some really disturbing poverty in India and now in US too. I mean the income inequality in US hits you in your face !

If I were to get little mathematical here, I also recall a discussion on political risk analysis. The insight was how political democratic systems like US are witnessing slow economic growth since they are turning more and more inward. This to appease their population in order to get votes, which is also in turn causing trade wars with China.

The above two data points have made me question whether we have still got it right ? The system of government ! I am not insinuating China's model of Governance is better because of their fantastic economic growth performance. That would be absolutely one sided answer. I mean China's model can be questioned on the quality of life one has owing to lack of liberalism. But then on the other hand we have liberal US turning inward and with such shocking income inequality. The rich are getting richer and the poor-poorer.

In true honesty, I haven't been able to figure this one out. I am putting my thoughts to share that it might be problem that we haven't even thought of addressing yet. I am thinking out loud, but I am not really a huge fan of the taxing system in the liberal economies. Firstly, they have huge loop holes that the upper echelon exploits to the max because of earnings like capital gains. Secondly, they are so complex that lower middle class can hardly comprehend them to even think of smart ass tax savings. Don't get me wrong, I don't have anything against the rich. My struggle is against the rising income inequality in the west and in home- India. On a quick google search, one gets to see economies like Australia fairing much better on income equality parameters (GINI index). This can be because of it's high transparent governance mechanisms but yes the causation is still not known.

To end this time, my blog doesn't provide a concluding answer because guess what I am no philosopher like Cleisthenes-The Greek Philosopher and the father of democracy ! All I am questioning is there are so many funds and NGOs working for the upliftment of the poor. They are not realizing that there can be potential crack in the backbone of the system. I am definitely on a wild mission in this lifetime to bridge the income inequality gap as much as possible so that people at the bottom of the pyramid can become philosophers and "philosophers can become king"- Plato :)

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