Islamabad, September 27, 2015 (PPI-OT):The demise of communism has unmasked the real face and intensions of the capitalism which has pushed world into great turmoil, a business leader said Sunday. Big businesses are exploiting the weaknesses of capitalism amass more wealth which is leading to tragic exploitation of masses around the world, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
He said that capitalist development has led to the concentration of capital, employment and power resulting in destruction of economic freedom of the majority of the global human population. Globalisation has not reduced poverty rather it has only worsened the problem by throwing world into acute developmental crisis.
International crisis are being engineered to deprive masses of their wealth as the evidence shows that number of billionaires increases after every global crisis. Shahid Rasheed Butt said that improved quality of goods at reduced prices due to competition, bridging gap between rich and poor and saving people from colonisation, eradicating modern-day slavery by influential multinationals have remained as attractive slogans.
Free market economy has increased number of billionaires in almost all the countries while hurting poor, environment and natural resources as 20 percent rich now controls 86 percent of the world’s resources. The veteran business leader said that free market has triggered exploitation of labour, increased incidence of child labour, human trafficking, tax frauds, money laundering and social inequality. The world must fix capitalism or find a new system without which coming generations will have new future.
For more information, contact:
Islamabad Chamber of Small Traders and Small Industry
Office No, 9 Block E, Super Market, Islamabad