Capitalism is an economy based on free markets where resources and firms are privately owned by several individuals or groups. Is it an evil distributing the country’s resources and wealth in the hands of a few? The ready answer to above by majority all along in the past, since Karl Marx’s days and even today by so called intellectuals, left-oriented organisations and some political parties is ‘Yes.’ Why? Because according to them it exploits the poor, makes the rich richer at the cost of poor, concentrates power and wealth in the hands of a few rich corporates.

   Presently in India political opponents of Modi are accusing him of being pro-corporate and procapitalist neglecting the poor. Is this correct? To start with let us look back at the experience of a few countries which practiced capitalism fully, socialism fully and a combination of both.

SEVERAL COUNTRYS’ EXPERIENCES

   USA has....