What economic system would you prefer?
 

Salaam,

Please take pain to provide your answer with reasoning for the above poll.

Regards,
Adil Memon

Well Adil..i think Communisim is the extension of Socialism....Its not something actually altogether different economic system.....n for that sake ....there exists only two MAIN branches of economic system.....1) Capitalism 2) Communism

Communism will be preceeded by Socialism.....Socialism iz basically the intermediate state of communism...

In a socialist state everyone wud get according to his/her efforts....People will be paid for their efforts....while in a communist state..everyone wud get according to his/her needs n requirements....n remaining wud be used by the govt for the welfare of the state..

History according to marx is divided into periods and socialism preceeds communism.
Socialism is not a "high classes" movement since the only class that leads a socialist revolution is the proletariat and the peasantary..who form the lowest strata of society. This strata is determined according to its relation to the means of production.

i'll definitely go for Communism.....cuz capitalism has its roots down to exploitation of basic human rights....while on the other hand the idea of surplus value guards the efforts of an employee...

In a capitalist society as u might be aware there exist two classes that are in contradiction to each other: the bourgeoisie (owners of the means of production) and the proletariat (the property-less class).
Since the proletatiat do not own any property they are forced to sell their labour power in order to survive. Thus the capitalist pays the wage-labourer a particular fixed wage for the his services.
W
hat the theory of surplus value implies is that the labourer spends a particular time of the working day in earning his wage and the rest of the day he creates profits for the capitalist. This "surplus value" of production is the essential feature of capitalism. As technology improves the worker spends less and less time earning his wage and more and more time making profits for the capilatist.

[QUOTE=Adil Memon]
Please take pain to provide your answer with reasoning for the above poll.
[/QUOTE]
Adil, first take pain to define these three states of Economic System,i mean for a person like me, i am not sure as to what exactly does these mean,once i am aware of there definations only then i'll be able to answer.

aoa,
capitalism,as an economic system has gained strength in the past years.but the results are enough to make one vote against it.the proportion between the rich and poor has increased dramatically.it has created a wide economic gap with the rich getting richer and the pooor getting poorer.

communism on the other hand has failed dramatically with the existing examples of soviet union and cuba.the reason being that communism will ultimately culminate in political instability and thus result in economic failure as happened with the soviet union.china on the other hand is deviating from the communist course so we cannot site it as a successful communist state.

i would go for socialism.although we have seen this system tried by mr.z a bhutto already and it wasnt quite successful.but then again the causes were more political.i agree with miss saba that socialism preceeds communism.infact the economin system in a communist state is very much derived from socialism.further,socialism is the only system which ,if not similar but is in close accordance with the fundamentals of the economics in an islamic state.socialism therefore would be my option.

regards....

Latest: Estonia, one of the fragment of the defunct USSR, has shown fantadtic growth recently. Their finance minister introduced "flat taxes" which means poor and rich both pay an equal proportion of their incomes, in form of taxes.

Salaam,

I just forgot that nobody replied my post. Thanks Miss Saba, for answering it.

Well I agree with you. Socialism is infact the bottom rung of Communism but in my opinion they have some difference so I kept them separate.

From the above systems I would better prefer Capitalism. I can see that the world's strongest economies of US and Japan are based on capitalism and its surely the best system in my opinion. Everybody here mentioned the flaws in the system to justify their answers but nobody looked at the benefits of this system.

So far we have worked out on a mixed economic system but still we find disparities. Infact there is no country in the world that has been completely able to maintain an equality among its citizen. The disparities have to be there. People call Capitalism a flawed system because it creates an economic gap between rich and the poor. Can anyone tell me a system that has ever been able to maintain an equality (please don't quote communism, recall USSR).

Capitalism promotes efficiency and Socialism/Communism prove to be the contrary.

A recent boost of investment in Telecom Sector is a good example to justify my answer.

FOR THE PEOPLE WHO ANSWERED SOCIALISM: Guys... this system doesn't really exist anywhere :D. (This system has to be international/worldwide to work in letter and spirit. It can't survive beseiged by capitalism)

All these are my personal opinions. People have to right to disagree and argue. My words are not the final mark... they can change if somebody can convince me!

Regards,
Adil Memon

@ Khushaal: you'll find them in any book of Political Science. I will need to read them to explain you properly. The posters here have explained the systems quite well. You can follow them!

i refuse all the economic systems
i like to have Islamic economic systemin Pakistan

Salaam,

Mohammad Adnan please put before us the Islamic Economic System which you wish to implement?

Regards,
Adil Memon

My good reason for communism

I don’t agree that communism is a total failure…….infact it’s not a failure at all…. It never collapsed…..n it’s the only system which is beneficial for the whole mankind. On the contrary, Capitalism is the root cause of detriment among the masses.

Now to justify my claim….I need to glance at some chronological facts……

According to some analysts, existence and implementation of communism was the core origin for the downfall of Russia. I don’t fall in with their statement….. [to some extent it’s true]…but it was not the communism which drove her to such repercussions….It was their political system that must be held responsible…and there is a significant difference between a political system and an economic system….Russia had single party rule [dictatorship]….n we all know the shortcomings of monocracy … we r its victim…..When a ruler of a country tries to impose single party rule then that’s actually a deterioration epoch for the people of that state….and this is what happened in Russia… Infliction of any system with totalitarianism can never flourish...and secondly Russia engaged herself in the race of weapons, ignoring her main track of development......Russia was revolutionized in 1919 and after civil war in 1924, she became the world’s most powerful state….It was all the mercy of communism…..Rapid development took place in country and that’s how future of Russian took a U-turn towards development. While USA who got her freedom sometime in 1870, took centuries to become the giant of this world….this is all because of communism …that Russia was on the peak with such short span of time…..We have got another example of Chain……though now China is a semi capitalist state but she owes all of her initial development to this communism….

Communism is similar to Islam……The concept of surplus value is what Islam preaches us…We can’t deny this fact…….Communism was never a failure… some external factors actually made it a failure….but keeping those factors constant [because those factors are never recommended] it’s the best economic system we can have……

Communism - is a failure..
 

I have to respectfully disaggree with Saba's comments about communism. First of all, communisn is not at all like islamic economic system. In communism everything is owned and controlled by the state (govt.). It is based on the wonderfull concept of 'sharing'. This system can not work, human beings by nature are selfish. Since in communisn there is no way anyone can work hard and make life better for them, people loose interest, and do the minimal work. Since everyone is rewarded equally, no matter how much work one puts in.

Communism is basically a system that is based on fiction and an idea of a perfect society where people place their country's interests before their own. Now, tell me if anyone feel that way..? I'm sure we all have patriotic views but at the same time, we want to improve our personal lives and the lives of our family and children.

So in fact, communism DID FAIL in the Soviet Union, and it will fail again, if any other country trys to impose this system. And by no means, I imply that capitalism is perfect, but its better compared to communism.

Responses welcomed...


shams.