International Journal of Humanities and Social Science

ISSN 2220-8488 (Print), 2221-0989 (Online) 10.30845/ijhss

The Meltdown of Capitalism
Dr. Habib-Ur-Rehman

The demerits of barter system had ultimately resulted in the emergence of a media exchange which could facilitate not only the current transactions but also ensure discharge of future liabilities without disadvantage to any of the parties to that transaction. This media was eventually as Money which passing through various stages of paper currency has now being replaced by plastic money which saves the carriage and loss in transit risks. The instrument used in practice has further eased the availability of funds round the clock around the world. However the origin of Money which apparently brought blessing of economic growth resulted in wealth concentration in few hands and deprivation of the masses. It inculcates a seed of greed for heaping up wealth because of lasses faire-free market, free choice of private property and profit motive. The process grew automatically and ultimately into an economic system. The system which caused this phenomenon was then named “Capitalism”. Even the process of wealth accumulation is very interesting as the wealth grew without any efforts on the part of capitalists. The gap between have and have-not is widening day by day which has put the world economy in the whirlpool of debt multiplication. This paper will focus on the nature of capitalism, causes of failure resulting in financial crises and ultimate measures to save the world economic system from debacle in future.

Full Text: PDF