Tuesday, December 2, 2008

The Downfaill of so called 'Capitalism'

I'm not an economist nor a finance analyst or involved in an industry related to economy or financial. I am just a 25 years old with an experience barely 1 year in career world where most of the experience people will called me you're still a baby in career field.

If we read in the newspaper whether the conventional or online ones, especially on the finance and economic section we can see how horrific and terrifying the current situation of the global economic. Already spinning in my mind how am i to survive, am i going to be jobless its scared me a lot as I'm going to be a husband in just few months.

For me the reason for this situation is because the values that we are holding today...greedy,materialistic,profits,money,deceiving and of course the most important things values me,myself and i.

Me,Myself and I a values where it does not involves group,society and community but only revolves in individuals this is the worst values that a human can has. Why? peoples with this values and thinking will only concentrating on themselves when they make money only their can get the biggest one,when they own something only he can get that things.

If this values where apply to a company a a whole imagine this simple thing, we have to get the most profits no matter how its done as long as we get a lot of profits. This is what happening now banks offer credit cards but the interest are high so that they will gains a lot of profits,insurance company offers high returns investment and claims and yet rejected claims with 1001 reasons in avoiding to pay claims.Retails hired cheap labors and bought cheap material and sells their products with high prices so that the profits margin are high......Government impose high income taxes and other mean of taxes....

These maybe factors that are contributing to our current global economic crisis. The thinking of making fast money, rather than stable and continuous money. Just a simple example when you build a house that only took 6 months rather than 2 years of 6 months is much more faster but you think which one will last longer of course you had to assume that both house are the same house and design so that no other external factors affected.

I'm sure that if credit card charged with fixed rate much more better than interest rate, even though the profit will be lesser but in the longer term the income will continuous rather borrowers and unable to pay due to high interest rate.

Maybe we should consider how one of Islamic Dynasty under the reign of Umar Abdul Aziz or Harun Al-Rashid i'm sure which one able to make all the people under their domain become rich people. Where at that particular time there was no poor people to give 'zakat'money and they had to used the 'zakat' money for developmet purpose. There a lot i want to say but i thinks this enough already.