If you want to save capitalism, you have to change the rules of capitalism completely and, dare I say, write them all upside down. Beginning from the term capitalism itself; and rename it as “Happy Capitalism.” We have to realise that prosperity of a society is not the sum total of the prosperity of its listed companies and the top 20 per cent people. Prosperity of a society is about the prosperity of the bottom 80 per cent of population. It’s only when they have real purchasing power – and not falsely induced credit based purchasing power – that the society will prosper and be happy, the ultimate goal of any humane society. Therefore, instead of the basic tenets of capitalism like ‘Survival of the Fittest’ and the ‘Trickle Down’ theory, we need to start believing in “Survival of the Weakest” and “Trickle Up” theory – both of which speak of the humane face of capitalism through systems of national economic planning, and about growth with equity and growth with control mechanisms to control shameless greed of the capitalists, wherever required (All the three theories, that is, ‘Happy Capitalism’, ‘Survival of the Weakest’ and ‘Trickle-Up theory, have been well elaborated in our book, “The Great Indian Dream”). And I end with a confident assurance that we would have a much better and humane system devoid of such humongous upheavals... And that it is Happy Capitalism that will save Capitalism!
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