Why do we need to adopt capitalist economy?

19/03/2017

We need to adopt capitalist economy, as it releases the full potential of the individual. Socialism locks the potential of the individual. Socialism does not motivate people to put in their best efforts in their work. To take an example, the state government owned and run transport corporations run at loss whereas private bus transport organizations run at profits. It is common to see that a government bus goes empty,  while a  private bus running a few minutes earlier or a few minutes later goes fully packed. The govt. owed Steel Authority of India (SAIL) runs at huge loss while privately owned Tata Steel runs at huge profit. It is good for the country, to privatize government owned companies so that they start earning profits and the money realized for sales, can be utilized for the betterment of the weaker sections of the society.