The secularisation or rationalisation of thinking and doing caused capitalism in the Western world. Capitalism was the high point of civilization advance in the West, prior to which they held buccaneering as business and witch-hunting as a game.
Capitalism involves the economy, i.e. the human endeavour for sustaining life, and it is the method which optimises all component processes of economic activities in efficiency and cost-effectiveness.
Capitalism as such calibrates the whole way of life to rationalised order. As an appropriate process of doing things, it leads to the build-up of self-corrective mechanisms in the order. These mechanisms are periodic and systematic in nature. Capitalism causes the economy to flow and ebb and in times of ebbing it eliminates the irrelevant and inefficient ventures and restores the whole economy and thus society to vitality.
And, there are systemic corrective mechanisms. It is capitalism which led to the evolution of formal and substantial democracy in the world. It was about ensuring a social order in which everyone is safe and there is no unhealthy concentration of power and wealth. Ultimately, too much concentration of power and wealth obstructs the capitalist way.
Simultaneously, it allows the counter-views and world views to germinate and flourish. It is no wonder that Marx and all the propounders of anti-capitalism live and articulate their thoughts in the Western world. It also allows religions to prevail. This makes them ever conscious of the different dimensions of life, whether rational or emotional. This is meant to check the mechanism or the order from overwhelming life itself. Again, if that happens, that would deprive capitalism of its purpose, i.e dignified and comfortable life for the people.
Less-evolved civilizations and societies lapped up for what the West had as corrective mechanisms. They adopted the means of handling the distress caused by the economic ebb as the permanent economic policy and corrective thoughts and activism as the order. They mistook medication as a way of living.
Capitalism needs a proper appreciation.
Niraj Kumar Jha
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