Opinion of controlled capitalism.

Abstract

The article "Opinion of Controlled Capitalism" by M. Azizur Rahman presents a comparative analysis of capitalism and communism, advocating for a regulated capitalist system that balances economic freedom with necessary government oversight. The author argues that while capitalism's profit-driven nature fosters productivity and innovation through incentives like private ownership and market competition, it also risks labor exploitation and negative externalities like pollution. In contrast, communism's idealized altruism fails in practice due to human selfishness, leading to inefficiencies, corruption, and limited growth, as evidenced by historical famines in China and Russia. The piece proposes "managed capitalism" as a middle ground, where taxation and regulations curb market imperfections (e.g., monopolies, pollution) while preserving entrepreneurial incentives. The article concludes that capitalism, when properly controlled, remains superior to communism in delivering productivity, economic freedom, and overall societal welfare.