In The Name Of Allah Most Gracious Most Merciful
Assalaamu Alaykum Wa Rahmatuallahi wa barakatuhu
 

 

Vices of capitalism

 

By Sharique Naeem

 

Sir: The capitalist system thrives primarily on the basis of the exploitation of one person, group or nation only to benefit another. And not surprisingly, the materialistic mentality causes capitalist nations to adopt foreign policies along material lines.

While Winston Churchill was prime minister, the British Royal Commission, in agreement with Churchill’s policy towards Iraq in 1913, stated, “We must become the owners, or at any rate the controllers, at the source of at least a proportion of the oil which we require.” In 1996, President George Bush’s Vice President, Dick Cheney said at an energy conference, “The problem is that the good Lord didn’t see fit to put oil and gas reserves where there are democratic governments.”

Putting these statements into context, the exploitation brought about by the Capitalist system is evident today. According to the New Internationalist Magazine (Dec 2000), the US and Canada consume nearly 30 percent of the world’s energy with just 6 percent of the world’s population. The US alone uses a quarter of the world’s oil with just 3 percent proven reserves.

With such uneven consumption of the world’s resources, one wonders how long will it take people to realise the appalling adverse effects of the global capitalist system.

 

Also Published as:  “Capitalist system”-The Post (11th Jan. 2006)

Daily Times (5th Jan. 2006)