Capitalism failed

…

By now, it should be clear to all that the capitalist system has utterly failed to deliver on its promises. Rather than widespread prosperity there is ever-widening inequality and rampant environmental damage, which poses and existential threat to mankind. Capitalism has funnelled money and power into a few hands and allowed them to get away with anything. From clearing the Amazon, polluting the seas and poisoning fresh water; no crime is too far as long as there is money to cover for them. Democracy was supposed to be a check on the rich and powerful, but it has been turned into their tool.

While the failings of capitalism are especially vivid in developing countries, even the developed nations are beginning to struggle. Cost of living crises have become common across wealthy nations, as the poor and middle-class are priced out by global capital. In fact, the middle-class has been dwindling for decades in these countries and soon there will only be the very rich and the very poor. Capitalism is inherently exploitative, be it the environment or labour, you can abuse it as you like to keep the profit margins high. We need to transition to a more humanist system of governance and economics that prioritizes human well-being and sustainability.

Haleema Sadia

Rawalpindi