Socialism or Capitalism ?

The Philosophy of Socialism says "From each according to his ability, to each according to his contribution". Most of the property is held common;workers have a say in the management of the organisation;all are treated equal and given equal opportunity;the market is regulated by the government. In theory the system is attractive,but its practicality considering the human nature is to be pondered. In The Soviet Union, after the initial phase of socialism, discontent among people stared raising.  When the growth diminished,the USSR decided to open the economy for capitalism. For socialism to be a success, all people should be content, they should be having a common goal, and dedication to the nation and work.

For emerging nations, socialism is the best option. It can give a common platform to everybody for the start. Competition can be introduced after a fair playing ground is achieved. Indian model of mixed economy cannot achieve the goals of either socialism or capitalism.

Let's take the experience of Kerala. Along with the democratic system, there emerged a strong communism. It was deep rooted. Thus the communist government was able to implement the land reforms most successfully in India. The economic inequality was reduced to a great extent by these reforms. There after the achievement of the state in terms of the Human Development stands as a testimony for the system. Kerala model is lauded for achieving both growth and improved income through human development. But human development wouldn't have been achieved sans social equality. The Human Development Report of United Nations Development Programme can be cited here. The indexing is done with inequality adjusted. The loss in development in India on account of inequality is alarming- in terms of education - 43%;health - 34%;income-16%. It means that even though the framers of constitution envisaged an socialist society, we are far from achieving it. This failure caused rich becoming richer and poor becoming poorer.

When everybody becomes equal, the further growth stagnates.People wont feel the need to work , if every thing is provided by the government.If profit is to be shared equally irrespective of the effort, there will be nothing to be shared. Thus the nation becomes poor. If everybody is putting effort and nation is becoming richer, there will be no workers for doing the basic works. Workers need to be hired from outside and it will drain the economy, finally will go back to square one. For maintaining the social order and growth, the economy can switch to the capitalist system realizing that the Utopian system exists only in paper .