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Long Live Capitalism

india Updated: Oct 15, 2008 20:55 IST
Manish Sharma
Manish Sharma
Hindustan Times
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"If Karl, instead of writing a lot about capital, had made a lot of it ... it would have been much better."
Karl Marx's mother


No completely "Capitalist" societies exist today. The so called capitalist societies are mixed societies in which private property, private enterprise and the profit system are combined with considerable government intervention and direction.

Capitalism has achieved novel prosperity through greater world-wide desegregation and provided the means to exterminate poverty from the face of the earth. It is capitalism which has enabled countries driven by Marx's pronouncement ' from each according to his ability, to each according to his need' through measures like pension schemes, unemployment insurance, health care and subsidies.

The gap between the rich and the poor may not have narrowed but the poor are certainly fortunate than ever before. Yet there is a long way to go especially in Third world countries like India. The answers lies in globalization with a focus on education and health rather than communism.

If modern-day Marxist were to accept Marxian dialectics as illustrated by the new synthesis, there is no reason for them to remain slaves of a defunct ideology. Mamta Banerjee's protest against Tata's Nano project was her way to make the score equal with the left government. She brought home the bacon but at the cost of West Bengal's progress and development. Ms Banerjee did not understand that her policies were anything but productive. Whenever Indian Marxists and pseudo Marxists like Mamta Banerjee block the path of reforms* which include wiping out the shadow of communism they come in the way not only the procession but of attaining Marx's dream of improving the condition of masses.

*See full coverage:
-Tata-Singur row
-Nuclear deal imbroglio