Capitalism and communism have lost relevance: Advani - Sify.com

Capitalism and communism have lost relevance: Advani - Sify.com




Advani's Wisdom

PTI

Capitalism and communism have lost relevance: Advani

Sunday, 22 April , 2007, 18:57

Pune: The two major ideologies of capitalism and communism, which were contending for supremacy in the 20th century and were founded on an understanding of human society divided into classes, have lost their relevance in an era of globalisation, senior BJP leader L K Advani said.


"The Marxist notion of class struggle is now consigned to the dustbin of the past. Similarly, the capitalist approach of exploitation of one section of society by another, and of one country by another, has also been shown to be inimical to human nature," the Leader of Opposition in the Lok Sabha said.

He was speaking at the convocation of the Symbiosis Centre of Management and Human Resources Development here.

The reason behind India's growth is spiritualism and the traditions of 'bhakti' and `shakti'. "Today, we live in the era of globalisation when the world has already become integral and increasingly interdependent," he said.

"However, the era of economic domination of Western countries is well and truly over. When experts study the future of the global economy, they no longer give priority to the US or Europe. They give priority to China and India," the former deputy prime minister said.

The four BRIC countries -- Brazil, Russia, India and China -- and especially the last two are expected to be the main drivers of the global economy in coming decades, he said.

An important outcome of the change in India in the last decade or so is that young and talented people have started to see their motherland as a land of opportunities. In fact, many Indian companies in Pune, Bangalore, Noida and other places have started to recruit people from the US and Europe, Advani pointed out.