ABSTRACT
In this chapter, the author argues that our present poverty and national weakness make socialism the only rational choice for us. The choice for new nations lies effectively between socialism and capitalism. In the modern world there are two basic systems of economic and social organization – capitalism and socialism. There are variations within these broad classifications, like welfare capitalism or humanistic socialism; but the broad distinction between the two systems remains, and our first choice has to be between them. A ‘take-overbid’, or a rationalization scheme, or a new cartel arrangement, can undo years of local negotiation, and the independent government may well hear about the prospect only if one giant or the other hopes to use it in order to get better terms for its own shareholders! In fact, Third World capitalism would have no choice except to co-operate with external capitalism, as a very junior partner.
