Progressive Economics
Capitalism: a Miserable Failure PDF Print E-mail
Thursday, 29 October 2009 16:50

If you did a search on Google, a few years ago, using the words “miserable failure” the first search result you would see would be George Bush’s official presidential site.  This result was due to “Google bombing” a technique in which many people linked to the president’s website using the words “miserable failure.” Google changed its ranking algorithm and you no longer get the presidential site when searching for “miserable failure” but maybe a more relevant result for a miserable-failure search would be to find the Wikipedia page on “Capitalism.” 

Despite all the euphoria of 1990, when communism fell and capitalism was anointed the winner of the cold war, a hard look at the economic and social condition of the world today reveals that capitalism has failed to provide the people of this planet with a good life.

Last Updated on Friday, 30 October 2009 03:38
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A Brief Introduction to the Progressive Utilization Theory PDF Print E-mail
Thursday, 29 October 2009 16:44

During the 20th Century, Marxism and capitalism were the contending economic theories and the world was almost engulfed by a Third World War due to this struggle. 
However, the collapse of the Soviet Union and the other communist bloc governments laid the way for the triumph of capitalism.  But today half of the world’s population lives on two dollars a day or less, and the developed countries are in an economic recession that is reminiscent of the Great Depression of the 1930s.  Once again people are asking, “Is there an alternative to capitalism?”

In 1959 P.R. Sarkar, an Indian philosopher, answered this question when he presented the Progressive Utilization Theory (known by the acronym, PROUT). PROUT is an economic theory that addresses the defects of both capitalism and Marxism and offers the promise of a new economic order in which the world’s resources will be distributed in an equitable and rational fashion.

We can understand PROUT by looking at six essential features of this new socio-economic system:

Last Updated on Friday, 30 October 2009 03:37
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