Capitalism has failed the world, but the hope that capitalism brings, nurtures the human spirit.

From the outset, I must state that I am a Socialist. I believe in the values of Socialism and firmly believe that a Socialist democratic state is what is best for South Africa.

In truth most of us are already Socialist at heart and for that reason we give to charity, to our churches and to those collections at the office when a colleague’s family member passes on. These are all Socialist traits as a capitalist would find a way to exploit the situation. It is also noted that businesses themselves criticize big business for forming monopolies to boost their profits. In reality, monopoliesis are mere (Capitalistic) business models.

In 2008, the sharp increase in food stuff and other basic goods resulted in trade unions calling on government to cut Vat on Chicken products since it is a staple food of the poor. This met with sharp criticism from the Red Meat Industry Forum chairman Dave Ford who stated that it gives an unfair advantage to the poultry farmers. It is these types of capitalist traits that see people staving rather than CEO’s loosing their annual bonuses.

The Capitalist world has presented many phenomenon; the dominance of the world markets by Europe, the fact that 80% of the world’s assets are owned by a mere 20% of the world population and the well documented fact of more than 50% of food produced is wasted, despite the fact that more than 60% of the world population lives in abject poverty.

Why then, you may ask, does it seem that Socialism has failed the world over if we take into account the falling of the iron curtain. The reason is quite simple. The Western nations have taken active steps to devalue socialism, for that reason there was unprecedented sanctions against the USSR, which led to poverty, corruption and eventually an unsustainable government.

Another example would be Cuba: They have one of the best health care systems, despite having high levels of sanctions applied to them by the US, although they do not pose any threat to world peace and have better human rights record than China.

In short, capitalism is not given a chance because it takes profits from very powerful and rich people. On the other hand, ordinary people are enchanted by the possibility (or perhaps fallacy) that capitalism will make them rich if perhaps they work very hard and keep at it.