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Flaws in economic development

We live in a system that thrives on exploitation and the worship of profits

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It is sad that almost everybody assumes that our economy is based on a level playing field.

This is not true. Absolute and relative poverty continues to rise; the rich are getting richer and the poor poorer, and some are falling into destitution and desperation.

Under the present economic system, exploitation is rampant (subtly legalised).

We witness aggressive cut-throat competition for so-called limited resources.

Certain quarters orchestrate divide and rule through race and religion to perpetuate internal conflict, which favours established capitalists.

Others profit from monopolies and illegal price fixing of produce and products or indulge in hoarding to sabotage the natural laws of supply and demand.

These practices lead to economic crisis, unemployment and underemployment, reduced purchasing power resulting in stagnation and stagflation, corruption, nepotism and collusion.

The excessive and heavy reliance on imports and exports places the country at the mercy of foreign producers and buyers. So when they cough, we catch a cold.

International borrowings are also subject to the superpowers’ cartel.

We live in a system that thrives on exploitation and the worship of profits.

The existing capitalist system will continue to create havoc through colonialism, imperialism, globalisation and other palatable names.

So we will experience exploitation in perpetuity. We will continue to laud famous professionals and experts and seek their help to tackle the ever-growing effects of exploitation.

But we overlook what causes economic exploitation.

Unfortunately, leaders have not taken the Islamic and socialist direction based on cooperation and reduced conflict – an approach that abhors exploitation and instead upholds tolerance, compassion, distributive justice and a strong moral compass.

The views expressed in Aliran's media statements and the NGO statements we have endorsed reflect Aliran's official stand. Views and opinions expressed in other pieces published here do not necessarily reflect Aliran's official position.

AGENDA RAKYAT - Lima perkara utama
  1. Tegakkan maruah serta kualiti kehidupan rakyat
  2. Galakkan pembangunan saksama, lestari serta tangani krisis alam sekitar
  3. Raikan kerencaman dan keterangkuman
  4. Selamatkan demokrasi dan angkatkan keluhuran undang-undang
  5. Lawan rasuah dan kronisme
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Dr Mohd Nasir Hashim received a PhD in international nutrition from Cornell University. He served as the first chairman of the Socialist Party of Malaysia (PSM) for 23 years (1996-2019) and as the Selangor State Legislative Assembly member for Kota Damansara (2008-2013). These days, he enjoys writing poems, painting and playing the harmonica
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