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@jamahir Libya was intensely corrupt and nepotistic. It had no industries to speak of, just oil money funelled into welfare, often times unnecessarily. You know like Oprah's "you get a car, you get a car, everybody gets a car"

I don't feel socialism can work in South Asia. Maybe when we advance to the level of Scandinavia then yes.
 
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@jamahir Bro, you follow socialism no less than a religion. I would suggest to you read other books to broaden your horizons, please.

I am a person who is as calm as a cat. I have read different kinds of books like travelogues, comic sketches of life and science fiction. I used to listen to BBC World Service radio, Radio Netherlands and All India Radio Vividh Bharati Service. Other such things. So my horizons are broad enough.

I imagine others like Kanhaiya Kumar and Shehla Rashid are calm and practical like me. And I wish they joined this forum.

And why then it broke spectacularly? I believe their economy was broke since at least 70s.
https://en.wikipedia.org/wiki/Second_economy_of_the_Soviet_Union

The USSR was an experiment, just like all socialist societies.

Besides, do you really believe that free healthcare and education are bad ?

It had no industries to speak of

There was a plan in Libya just before the war, to set up a tax-free city that would invite the intellects of the world to set up offices and industry there for the benefit of Libya and generally the world.

just oil money funelled into welfare, often times unnecessarily.

Unnecessarily ?

I don't feel socialism can work in South Asia. Maybe when we advance to the level of Scandinavia then yes.

But how will that advancement come when there are people like @Soumitra who believe that before helping the poor one should do cost-benefit analysis ? And there are still primitive practices like honor killings and enforced murders like suicides ?

Socialism is a way to change social conduct as much as political and economic conduct.

So if not by socialism how do you plan to change society, knowing that most of the middle class is apathetic ?
 
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Didn't Jesus Christ speak against the interest takers too ?

I don't know about that? Why isn't it called Christian banking?

BTW do you follow the teachings of Lord Krishna?

Don't modern socialist societies speak against interest too ?
Now you know why I called it foolish

1. As far as I know, the RBI has not permitted interest-free Islamic loans so there is no provision for a proper Islamic lender in India.

Then why suggest it? Anyways is it legal in Islamic Republic of Pakistan? Do they have both interest and interest free banks? Which ones are more successful?

2. As far as I know, a business that takes an interest-free Islamic loan has to be open to the idea of partnership with the loan giver.

It is called equity investment not a loan. I will invest in your business and will get percentage of profit.

What about housing loan, car loan or personal loans?

3. Islamic finance / economics does not exist in isolation. It should exist within a larger welfare state society.

That's why it is a foolish idea

You should consider where did Lt Col. Purohit, Sadhvi Pragya and friends get their ideas from.

They were not members of RSS and were framed by Congress government for spreading Hindu terror bogey
 
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I am a person who is as calm as a cat. I have read different kinds of books like travelogues, comic sketches of life and science fiction. I used to listen to BBC World Service radio, Radio Netherlands and All India Radio Vividh Bharati Service. Other such things. So my horizons are broad enough.

I imagine others like Kanhaiya Kumar and Shehla Rashid are calm and practical like me. And I wish they joined this forum.



The USSR was an experiment, just like all socialist societies.

Besides, do you really believe that free healthcare and education are bad ?



There was a plan in Libya just before the war, to set up a tax-free city that would invite the intellects of the world to set up offices and industry there for the benefit of Libya and generally the world.



Unnecessarily ?



But how will that advancement come when there are people like @Soumitra who believe that before helping the poor one should do cost-benefit analysis ? And there are still primitive practices like honor killings and enforced murders like suicides ?

Socialism is a way to change social conduct as much as political and economic conduct.

So if not by socialism how do you plan to change society, knowing that most of the middle class is apathetic ?


Charity does not figure in the Hindu ethos like it does in the Muslims. So his cost benefit analysis is understandable. Har cheez mein swarth dhoondte hain. (There I used a Sanskrit word)
 
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@jamahir bro, I am not interested in a point-to-point debate as it will hardly change your mindset, I would suggest you to read books like From Third World to First: The Singapore Story or Capitalism and Freedom. Thanks.
 
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Ugh the way these bhakts speak, it just reminds me of curry powder and overbearing smell of incense. Soumitra shut up man. You're tedious as hell.
It is a public forum and I am not replying to you. You can hit Ignore button if you want.

Ohh, The same trope can be used to prove 9/11 was an insider job.
Col. Purohit has always maintained that he was part of Army Intelligence who infiltrated the terrorist group.

Sadhvi Pragya has said that she was framed by Congress and that is why she fought election.

Both are under trial right now.

There's no equivalence of 9/11 inside job conspiracy theories. They are presenting their defense in a court of law.
 
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It is called equity investment not a loan. I will invest in your business and will get percentage of profit.

The effect is the same.

What about housing loan, car loan or personal loans?

1. Housing should be provided free by the system. Comfortable housing, two storey with a garden. Away from the road. Earthquake tolerant. No one should be allowed to have more than one house. Such things.

2. I have already said that the transportation system should be revamped. Removal of privately-owned personal transport ( cars, motorcycles, scooters ). Introduction or increase of mass transit systems ( like buses ). Taxi services ( like Uber and Ola ) for special occasions. The system providing other vehicles like three ambulances per neighborhood, goods transport vehicles and so on.

3. Given cases like the two above, why would you need personal loans ?

Charity does not figure in the Hindu ethos like it does in the Muslims. So his cost benefit analysis is understandable. Har cheez mein swarth dhoondte hain. (There I used a Sanskrit word)

I am sure there was enough Buddhist influence to introduce the idea of charity and general harmony but with the decline of Buddhism it all got removed.

Now you know why I called it foolish

No, I don't know. Explain.

Then why suggest it?

Because at least farmers, professionals and students wouldn't commit suicide.

Anyways is it legal in Islamic Republic of Pakistan? Do they have both interest and interest free banks? Which ones are more successful?

@Cliftonite, do you know ?
 
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Like Masood Azhar?
Yes innocent people are freed from jail by Hijackers. You do realize that hijacking a plane is a terrorist act?

He was arrested by police and he was having a trial where he could present his defense. But instead of that he asked his compatriots to hijack an airline and free him.

If he wants to clear his name he still has a chance to stand trial in India. He is wanted for crimes. He can surrender and get a trial and if his defense is convincing he would be set free.
 
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The effect is the same.



1. Housing should be provided free by the system. Comfortable housing, two storey with a garden. Away from the road. Earthquake tolerant. No one should be allowed to have more than one house. Such things.

2. I have already said that the transportation system should be revamped. Removal of privately-owned personal transport ( cars, motorcycles, scooters ). Introduction or increase of mass transit systems ( like buses ). Taxi services ( like Uber and Ola ) for special occasions. The system providing other vehicles like three ambulances per neighborhood, goods transport vehicles and so on.

3. Given cases like the two above, why would you need personal loans ?



I am sure there was enough Buddhist influence to introduce the idea of charity and general harmony but with the decline of Buddhism it all got removed.



No, I don't know. Explain.



Because at least farmers, professionals and students wouldn't commit suicide.



@Cliftonite, do you know ?


Most of our banking is interest laden. Interest free banking or rather Islamic Banking as it's called here is very niche and a farce. Hota us mein bhi interest hi hai bas profit and loss sharing ka naam de dete hain banks.
 
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1. Housing should be provided free by the system. Comfortable housing, two storey with a garden. Away from the road. Earthquake tolerant. No one should be allowed to have more than one house. Such things.

2. I have already said that the transportation system should be revamped. Removal of privately-owned personal transport ( cars, motorcycles, scooters ). Introduction or increase of mass transit systems ( like buses ). Taxi services ( like Uber and Ola ) for special occasions. The system providing other vehicles like three ambulances per neighborhood, goods transport vehicles and so on.

3. Given cases like the two above, why would you need personal loans ?
So you want to destroy the housing industry, automobile industry, consumer goods industry etc. Do you know how many people are employed in these industries? All those construction workers you cry tears for get employed in building 3 houses for the businessman.
But maybe this is what you want. Once these labourers are unemployed you will have greater chance to cry.
No, I don't know. Explain.

See all my posts to know why I consider socialism as nothing but a foolish enterprise.

Capitalism Rules. Money is God.

From now on if you ask me anything about my view on socialism this is what I will say to you.
 
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Most of our banking is interest laden. Interest free banking or rather Islamic Banking as it's called here is very niche and a farce. Hota us mein bhi interest hi hai bas profit and loss sharing ka naam de dete hain banks.

And there is the Pakistan Stock Exchange which system is based on speculation.

So you want to destroy the housing industry, automobile industry, consumer goods industry etc.

The housing industry and its workers ( engineers, architects, laborers ) can be reassigned to build thousands of townships across the country. And introduce 3D Printing technology to save time and labor.

The automobile industry certainly needs to be streamlined, efficient and its workers need to be largely reassigned and can be. Think of all the chaos and pollution a more scientific transportation will bring.

What about the consumer goods industry ?

Money is God.

Wonderful. There are people dying of hunger because of lack of money and here you are, giving godly status to money.
 
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