Spandan 2009 – Debate competition – Capitalism is the only solution for Development of India

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Its my debate competition at the interfaculty youth fest of BHU, Spandan. The topic is ‘Capitalism is the only solution for development of India’ and I am speaking against the motion.
Here is the speech that I have prepared. Keeping fingers crossed…..
A very warm good morning ladies and gentlemen.
Money is a new form of slavery, and distinguishable from the old, simply by the
fact that it has no human relationship between the master and the slave.
With these lines of Leo Tolstoy, this is Arpit Srivastava from Faculty of Science
disagreeing with the topic that Capitalism is the only solution for development of India.
Capitalism has met with strong opposition throughout its history. Many 19th
century conservatives, like Karl Marx, Lenin, Fidel Castro, were among the most strong critics of capitalism. They considered capitalism as a threat to cultural and religious traditions. Lets not drill into past, even if we see the present scenario, economic regulation is necessary in order to reduce corruption and numerous other problems.
Capitalism is an economic system in which wealth, and the means of producing wealth are privately owned and controlled rather than, publicly or by the state. In capitalism, pricing and supply of goods, commodities and services are primarily determined by voluntary private decision which is largely free of government intervention. When we say that Capitalism is the only way out, we indirectly criticise our own government and give a hint of its inefficiency. Implementing capitalism is not the solution rather we should deal the problem at grass root level by choosing a sound governemnt and allowing it to take full control.
Christianity and Islam forbid lending money at interests which is a regular
feature of capitalism. As India is a land of all the religions, sticking to capitalism may lead to commotion and disorder in the country. Some other problems associated with capitalism include: unfair and inefficient distribution of wealth and power; a tendency toward market monopoly; imperialism and various forms of economic and cultural exploitation. The country turns more prone to inequality, unemployment and economic instability.
There is a huge hue and cry about present economic recession. But if we realize
the fundamental cause behind it, its the promotion of captalism in our country. Excessive income and wealth inequalities have lead to financial crisis and economic depression in the capitalist economy like ours.
Considering the scientific point of view, environmentalists claim that capitalism requires continual economic growth which consequently and inevitably depletes the finite natural resources of the planet. Capitalist production can never adequately compensate for the simultaneous loss it makes to the ecosystem and biosphere. Its quite pleasant to see that many companies have started realzing its importance and have taken up corporate social responsibilities to mitigate the harmful effects.
The present focus on the rural areas and rural management is an evidence that
capitalism will end soon and we would witness India as better place to live. Probably a mixed economy is a better choice in order to ensure adequate labour standards and relations, as well as economic justice rather than sticking to capitalism and promote economic enslavement.
Thank you…

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