The Downfall of Capitalism in physical stratum by Dr. Aditya Kumar Mohanty
Capitalism is a system of economy in which the means of production remain the hands of individual or a privileged few, with profit as the sole motto. It is based on Laissez-faire (principle of economic non-interference)
Capitalism grows from the psychology of accumulation, psychology of self-appropriation. It is due to the propensity to accumulate accounts for the existence and growth of capitalistic institutions and practices.
The Downfall of Capitalism in physical stratum by Dr. Aditya Kumar Mohanty
Capitalism is a system of economy in which the means of production remain the hands of individual or a privileged few, with profit as the sole motto. It is based on Laissez-faire (principle of economic non-interference)
Capitalism grows from the psychology of accumulation, psychology of self-appropriation. It is due to the propensity to accumulate accounts for the existence and growth of capitalistic institutions and practices.
The principle of Laissez-faire makes room for free competition leading to the exploitation of majority by minority. Extreme concentration of wealth in the hands of a few widens economic disparities. Hoarding stalls velocity of money circulation, leading to stagnancy of capital, stagnancy in industry, agriculture and witnesses rising unemployment.
In political sphere, it promotes Individualism. The capitalists control the ruling elites. They pull the strings from behind the screen. The legislature, executive, and often the judiciary dance to their tune. They leave no stone unturned to instill inferiority complex in minds of the exploited by creating the impression that the race, language and the tradition of the ruled are inferior.
Besides, dogmas are propagated to keep the subjects in darkness and confusion. The spread of pornography, is also a part of the cunning strategy to divert the attention of youth-force and keep them enervated. Thus, exploitations in psychic sphere, pace the way for politico-economic imperialism. The colonial regimes in past show how the colonies are made to supply the raw materials, cheap labor and serve as the ready market for finished goods of the imperial nations.
In social sphere, one finds decadence of value, extreme poverty, leading to high rate of crime, prostitution, frustration, drug addiction, rampant corruption, nepotism, child labor, child crime and immoral practices, Thus, peace and harmony appears as distant goals in the receding horizon.
Proutist solution to Capitalism maintains that money has the velocity of circulation. The more it rolls, more affluence it brings. The circulation of money leads to the increase of purchasing capacity. The value of money is determined by amount of commodity it fetches. With increase of purchasing capacity, there is a true progressive increase in the standard of minimum requirement.
Prout rightly construes purchasing capacity, to be the nucleus of a stable economy. It enjoins that economy must not be profit-oriented but consumption-oriented. There should be maximum production of consumer goods rather than luxury goods. Hence, the Proutistic injunction, Keep money rolling, with the increase of purchasing capacity, there is the increased demand leading to the increased supply, followed by increased production.
The effect is that there is no room for economic recession or depression. There is beam in economy. The man-power does not run after jobs but boom in production provides extensive job opportunities and jobs fetch man power. There is ample leisure so that unutilized human energy is channelised in higher pursuits. There is socio-economic security all around. The basic essentials, having been ensured, the individuals engage themselves in subtler and nobler pursuits.
