Karl Marx, the critique of the capitalist world system, described it as a figuratively progressive system but which would eventually stagnate to create severe socio-economic issues. His explanation of the capitalist system is what associates the relationship between the two classes formulated following the industrial era. The relationship of the bourgeoisie and proletariat as the two competing classes where the bourgeoisie tends to exploit the salaried class or the proletarians. The chicanery of the elite have drudged the salaried class into state of despondency. The nature of the jobs, are rusting even the most creative minds into water tight compartments where any human’s initiative or intervention is discouraged. This has resulted in stunted growth as the individuals are controlled by the reins that are in hands of the bourgeoisie. The reverberations could be heard and have profound impact on today’s social fabric.
The proletarians, who possess no means, ability or opportunities as the bourgeoisie class, is the oppressed class. They are the ones who have to depend on the bourgeoisie for the smooth continuation of their lives. Though the bourgeoisie are also dependent upon the salaried class for running their businesses, however, they are the ones who possess the capital and ability to hire people and maintain them as they will. In developing countries like Pakistan, Bangladesh or Indonesia the salaried class are exploited way higher than in the developed countries in the name of business competitive strategies like outsourcing.
In a capitalist economy where most of the businesses are privately owned and the markets are competitively driven, the state’s intervention is slight and is limited to regulating the market, if cartels are formed or any other market obstruction arises. As a company or an organization basic definition is a profit making entity, many outstandingly operate on this principle, without taking into regard the profit/benefit of the whole society in terms of learned values, honesty, integrity, collective growth. The concept of Corporate Social Responsibility (CSR) has become a compulsive phenomenon to earn good will which again is aimed for higher profits. Although Corporate Social Responsibility is still a response of a responsible organization towards the people or the society, though the selfish motives at the base don’t allow for random acts of kindness. Humanity is caring or valuing only a human life without any underlying worldly motives.
The core purpose that surrounds the capitalist system is to maximize profit, which is not in itself harmful but the ‘desire’ of generating and accumulating profits is what that obstructs it from recompensing the society. Man is liable to deviant or unethical behaviors. But it is the society and the government that imposes restrictions, formulates laws and a system on which the state is to be based upon. Failure of the state to implement the laws and to impose progressive measures can lead to severe puncture of the wheel of growth. The capitalist elite have been hiding behind the extensive judicial procedures, corrupt government and lax regulations. A deadly nexus has been formed where capitalists are being supported and exempted of all state regulations by the state leaders.
Taxes worth millions are waived by government. Growth is contained to a few businesses and a few people are benefitted. 
The world needs to take into account the imprints capitalism is leaving on the whole world. From climate change and women retrogression by the industrialist world to the present horrors amid the Covid-19 pandemic. The role of capitalism until now has been deleterious and is straining humanity. The world is plunged into state where franchised wisdom, profit accumulation and class consciousness have become the ultimate reality. Social bonds based upon affection, affiliation and good will are replaced by relationships that are based on similar professional and social standing. The moral values of sincerity, integrity, honesty, kindness, mutual respect and empathetic behavior is diminishing. Read DR. Andy Atwood
This overpowers the propensity of the capitalist values to entrench deeper into human mind. Thus creating lesser concern for others while being more selfish towards the attainments of one’s own needs.
As a result, it is the humanity that suffers and is eroding away in a society which consists human being as the basic and the founding unit. The corona pandemic has proved that profits supersede humanity. The rise in the price of masks and sanitizers up to 100% after the first case. The rapacity of the companies to obtain profits in such a crisis is devastating and a grim spectacle. Furthermore, companies are also involved in irresponsible acts that jeopardizes the safety of its employees and the others. Retail stores were reported to be avoiding safety measures, which, could lead to huge repercussions.
Meanwhile, Trump, leader of the world’s greatest capitalist country has been giving negligent statements of their response mechanism like “We have got it under control”, while the daily deaths exceed 2000. The increasing fatalities in Germany, Spain, UK, Italy and USA, the negligent attitude of capitalist leaders running the states and the failure of the government to provide Personal Protective equipment to their frontline soldiers and Trump’s suspension of fund to WHO depict how capitalism has failed humanity. Corona has been the litmus-test for capitalism.
This requires strict actions against such corrupt and manipulative practices by exercising laws and regulations. Progressive instead of retrogressive taxations must be levied. Small business and farmers must be provided with ample opportunities and loans to prosper. Furthermore, businesses must act as social enterprise by focusing on conscious capitalism. Conscious capitalism is a system where the higher purpose serves to be environmental upgradation and not profit making, a culture that promotes equality, sustainability, ethics, transparency and respect for the social fabric, and not accumulation of wealth in hands of few families. No one has the right to treat anyone as an expendable. We need inclusive growth. This is what elevates the country’s social and financial prospects in long term. At the end, it should be for humanity. Only for humanity.
Also Read: The Corona virus and Capitalist System
