Is capitalism outdated in the 21st century?

xJamaax · January 25th, 2012, 07:20 PM

Quote:

Davos, Switzerland (CNN) – With the world still shaking from the global economic earthquake, and suffering daily aftershocks from Europe, it is not surprising that the topic at Davos is whether capitalism is dead.

On the opening day, the main debate focused on the question: "Is 20th century capitalism failing 21st century society?"

In the eyes of many workers, and especially young people, the business community "has lost its moral compass," trade union leader Sharan Burrow pointed out in today’s debate. "We must redesign the model. We must reset it,” she urged.

Klaus Schwab, founder of the World Economic Forum, is in no doubt that capitalism is "outdated," and that talent, not capital, should be the main driver of economies.

So far there seems to be a view that capitalism may be the worst form of economy - except for all the others.

Saying that the system needs fixing is the starting point. Leaders like Muhtar Kent, CEO and chairman of Coca Cola, are spending a lot of time here thinking about what might come next. He believes that a new model based around a triangle of government, companies and society is the way forward. But hang on. Didn't we used to call that the "stakeholder economy" in the 1980s? Wasn't the very idea of “stakeholder” designed to broaden the reach of those under the tent? Make more people feel included?

As the failure of capitalism over the past decade shows us, it’s all lip service unless major action is implemented.

While the shift in economic power to the East is undeniable (OK, John Defterios, but that doesn't mean the West is down and out...) no-one should think these emerging markets are great paragons of new model capitalism, spreading wealth and benefits.

There may well be a rising middle class in the BRICS economies, but poverty, disease and a lack of social welfare still abound there.

Since they can’t waste too much time trying to do what they can’t, they are at last willing to talk about what might come next. Now, can someone please tell me what a new model of capitalism might look like? And crucially, how we prevent it becoming just a re-fashioned version of the old?

What do you think?

I decided to post this here to get the views of people especially Tanzanians since the socialistic model is ideal for "spreading the wealth around" thereby benefiting the society as a whole even those who do not make an effort to contribute to this cause.

Uhuru na Umoja · January 25th, 2012, 07:50 PM

In Tanzania, we still believe; equality, selfless, dignity, justice, moral, peace and tranquillity, are the main ingredients of really national prosperity and really national security.

there is no real peace in the face of inequality, selfishness and immorality.

xJamaax · January 25th, 2012, 08:11 PM

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Originally Posted by Uhuru na Umoja

In Tanzania, we still believe; equality, selfless, dignity, justice, moral, peace and tranquillity, are the main ingredients of really national prosperity and really national security.

there is no real peace in the face of inequality, selfishness and immorality.

I agree though I wont want anyone to expect me to give something I have worked for so hard and I wont expect people to be lazy and expect others to give them handouts. This is why I think socialism breeds laziness at least economically.

Uhuru na Umoja · January 25th, 2012, 09:05 PM

Quote:

Originally Posted by xJamaax

I agree though I wont want anyone to expect me to give something I have worked for so hard and I wont expect people to be lazy and expect others to give them handouts. This is why I think socialism breeds laziness at least economically.

Quote:

Originally Posted by xJamaax

I wont want anyone to expect me to give something I have worked for so hard

ecological unit- Public
Teachers: herein means - molecules of the public.
Achievement: herein means - structure
more meanings of Public: - a structure.
molecules: herein means - civil workers

We are all dependant of ecological unit for our survival, when you were born; you using the public facilities [such as schools, hospitals] that neither you nor your dad has built one; neither you nor your dad has been paying the Teacher’s, Doctor's salaries. Teachers/Doctors are paid and Schools/Hospitals were built by the public’s tax. Your achievement/s is/are the result of partly collective effort/hard work.

A structure is composed of molecules.

That is, your achievement, a structure, is a combination/composition of two parts; public and you, necessarily.

So after achievement that is what you have to say for the other part that has been great for you? Can you spot your selfishness now?

Geza Ulole · January 25th, 2012, 09:48 PM

Quote:

Originally Posted by xJamaax

I agree though I wont want anyone to expect me to give something I have worked for so hard and I wont expect people to be lazy and expect others to give them handouts. This is why I think socialism breeds laziness at least economically.

if Kenya is not lazy then why is ur economy growing slowest in the region? Or why r u having hunger? can't u do irrigation? Or why aids infection is highest in the region though u r more literate? Isn't that laziness? Pls answer in decent manner!

***bantugbro*** · January 25th, 2012, 09:53 PM

Quote:

Originally Posted by Uhuru na Umoja

ecological unit- Public
Teachers: herein means - molecules of the public.
Achievement: herein means - structure
more meanings of Public: - a structure.
molecules: herein means - civil workers

We are all dependant of ecological unit for our survival, when you were born; you using the public facilities [such as schools, hospitals] that neither you nor your dad has built one; neither you nor your dad has been paying the Teacher’s, Doctor's salaries. Teachers/Doctors are paid and Schools/Hospitals were built by the public’s tax. Your achievement/s is/are the result of partly collective effort/hard work.

A structure is composed of molecules.

That is, your achievement, a structure, is a combination/composition of two parts; public and you, necessarily.

So after achievement that is what you have to say for the other part that has been great for you? Can you spot your selfishness now?

This is way too much her to grasp

xJamaax · January 25th, 2012, 09:55 PM

Quote:

Originally Posted by Geza Ulole

if Kenya is not lazy then why is ur economy growing slowest in the region? Or why r u having hunger? can't u do irrigation? Or why aids infection is highest in the region though u r more literate? Isn't that laziness? Pls answer in decent manner!

I am not referring to anything Kenyan, Tanzanian, Ugandan e.t.c. I just want views on the two models of economic systems.

Why do you think each is good or bad?That's what we are looking at here.

Geza Ulole · January 25th, 2012, 10:01 PM

Quote:

Originally Posted by xJamaax

I am not referring to anything Kenyan, Tanzanian, Ugandan e.t.c. I just want views on the two models of economic systems.

Why do you think each is good or bad?That's what we are looking at here.

But it is obvious that's where u were heading to! can't u post this in Kenyan forum or at least in the East African thread?

xJamaax · January 25th, 2012, 10:01 PM

Quote:

Originally Posted by Uhuru na Umoja

ecological unit- Public
Teachers: herein means - molecules of the public.
Achievement: herein means - structure
more meanings of Public: - a structure.
molecules: herein means - civil workers

We are all dependant of ecological unit for our survival, when you were born; you using the public facilities [such as schools, hospitals] that neither you nor your dad has built one; neither you nor your dad has been paying the Teacher’s, Doctor's salaries. Teachers/Doctors are paid and Schools/Hospitals were built by the public’s tax. Your achievement/s is/are the result of partly collective effort/hard work.

A structure is composed of molecules.

That is, your achievement, a structure, is a combination/composition of two parts; public and you, necessarily.

So after achievement that is what you have to say for the other part that has been great for you? Can you spot your selfishness now?

That's not necessarily true, we have private schools and hospitals that were not built by the tax payers' money. There are private doctors too!

Geza Ulole · January 25th, 2012, 10:02 PM

Meanwhile fellow Tanzanians, we should pick a moderator here!

xJamaax · January 25th, 2012, 10:07 PM

Quote:

Originally Posted by Geza Ulole

But it is obvious that's where u were heading to! can't u post this in Kenyan forum or at least in the East African thread?

I just thought Tanzanians are more familiar with the "ujamaa" structure and thus I wanted their views on capitalism as well. Since Kenya is not the only nation having a great capitalistic system, I was not expecting someone to talk about Kenya versus Tanzania or Uganda, I just wanted your views on the original post.