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Bread and butter are the basic requirements of every person. drinking, eating and breathing because man is a serf to his physical needs, no one can keep body and soul together without eating. Without fulfilling fundamental requirements no one can even dare to think about sacrificing ones resources for satisfying the needs of others in this era of materialism and indifference. But to struggle for accomplishing ones necessities in the presence of inadequate sources is not the dilemma of our society. The tight spot of the contemporaneous humanity is that the loaded countries and the flushed cuckoos wallowing in pelf and plenty are plundering the already deprived ones. This exploitation has separated the world into potent developed and weedy developing countries and the populace of the globe into poor and rich categories. This unwarranted economic system based on unfair profiteering has given birth to frustration and a sense of deprivation among the cash-strapped victims of maltreatment.

Capitalism is a dominant economic system that is working in mainstream of the countries of the world. The acquisitive configuration of entrepreneurship is based on spend more and earn more. The ultimate result of this laisser-faire is the concentration of the world resources within a little throng of greed-ridden souls and the skinflint dominant countries. The logical end of this skinning and misappropriation would be the folks scrapping the bottom of the barrel would pounce upon the well-heeled crocodiles whom they blame nakedly for their miserable condition. The fleecing spoliation and its retaliation are bound to create law and order situation because the underprivileged utilize weapons to snatch their food.

This can result in commotion and chaos all over the world with the passage of time. This exploitative economic system is the basic reason for extremism and terrorism in the present-day world [http://ants37monroe.gamerdna.com/game_post/ihk2McIg/anyone-can-easily-get-the-finest-economic-news http://www.globes.co.il/en/article-1000875072] and its perpetuation would further flare them. Therefore, there is crying need to restructure the international economic system based on just universal principles that is mandatory for survival and peaceful co-existence of human race.

According to Encarta Dictionary, "Capitalism is an economic system based on the private ownership of the means of production and distribution of goods, characterized by a free competitive market and motivation by profit." This financial system not only results in leg pulling and cutthroat competition but also generates callous hatred and attitude in the society because everyone would use his energies and resources to outnumber and rout his competitors. It ultimately deprives the stripped of their bare results and resources in pumping of substantial means in the hands of the diamond-studded. Thus the space between the plenteous and the out of pocket broadens with each passing day. The affluent rose to the crest by pushing the starved to the trough. This gripping monetary structure with predatory core results in deep-seated social stratification.

In capitalistic industrial countries the governments levy heavy taxes on the earning people. Thus revenue generated is spent on public welfare. The considerable returns collected are also distributed among the unemployed and the other deserving ones. Due to strict legislations and strong institutions the number of tax evaders is just the tip of the iceberg. By bridging the yawning gap between the fat cats and the poor as shithouse rats, thus these states accomplish their responsibilities. In preponderance of the developing countries capitalistic economy is ruling the roost but the fiscal picture is tremendously bleak. The status of institutions is enormously miserable and the personalities having surplus capital invest more to churn out utmost profit. While the despotic and burglar rulers who are not accountable to anyone do not bother to fulfill the requirements of their public. They don't slide out of their self-created casing of selfishness. Thus in these countries with each passing day the un-paperable chasm between the well-off and the down and out broadens because of the negligent attitude on the part of the government. This has resulted in the accumulation of resources within a teeny-weeny bunch of men on a good wicket in the developing countries.

What plagues Pakistan? Although it is practicing capitalistic economy but the number of tax evaders is as increasing as atmospheric pollution and the number of tax payers is as low as integrity in a scam-spattered country. The feudal lords in the assemblies, army generals and top bureaucrats use their strong connections to establish business empires. They are also hunky-dory with the authorities that helped them in tax evasion, getting undue contracts and acquiring import permits, etc. Economic disparity was the fundamental reason for the dismemberment of Pakistan on December 16, 1971.The renowned economist Dr Mehboob-ul-Haq revealed in his speech in Karachi that 20 families belonging to West Pakistan were the major owners of the shares in Pakistan . This was mainly sparked by capitalistic economy and the negligible role of the state to monitor undue favors to the bigwigs.

Interest is another curse to pillage the already circumscribed resources of the cleaned out. In Pakistan the interest imposed on the flat broke is much more than on the well-off. The farmers obtain loan from the banks on soaring interest rates while the industrialists get finance for the establishment of industries at much lower charges. It seems that this system has been introduced by the Jewish holding the reins of the economy of the world. They are the ultimate beneficiary of the interest based fiscal system. It is irony that the Muslim countries have stepped in the shoes of the West by adopting this sullied pecuniary system. Ironically well-endowed citizens of these countries who curse interest as against tenets of Islam deposit their capital in the western banks that carry out interest based economy. By using the capital of the Muslims the interest earned through this commerce is used by the West to nourish their Brainchild Israel and to extend their hegemonic designs in the world.

There are scores of basic flaws in the capitalist economy. It impedes the circulation of money because of its one way drainage, i.e., from the pockets of the unfortunate to the coffers of the up in the dough. By narrowing the cleft between those living off the tit and not having a pot to pee in by deducting taxes from the earnings of the currency camels and ladling out to the deserving ones, in addition to this although the state play a key role. Therefore, it failed to cultivate empathy in the cashed-up for the cash-strapped because greater part of the tax payers consider tax a burden instead of responsibility, but as the taxes are imposed on the citizens without generating a sense of humanity.

Communism is a classless social system. According to Encarta Dictionary "the political theory or system in which all wealth and property is owned in a classless society by all the members of a community." In communism everything belongs to the state. According to his energies and gets according to his requirements every person contributes. This system brags about equality but practically it crumbled to dust after the collapse of USSR . In theory it looks very attractive and appeals to human senses because it talks [http://cleo85elvin.artician.com/portfolio/A-Person-Can-Easily-Get-The-Best-Economic-News/ tsahi merkur] about egalitarianism but practically this system proved unsuccessful and to rejuvenate it is flogging the dead horse. This can only be practiced in a zoo where locked-up tigers and monkeys are equal because they are at the mercy of zoo authorities for their nourishment. The disproportions in the human society are natural because it is based on sharing of emotions and feelings that are the byproducts of social differences. Paradoxical to the bragging of communism there are marked socio-economic disparities between the blubbery cats and the pitiable rats in the communist countries that are even greater than the capitalistic economies. There is no concept of private ownership. Therefore, the ambition and passion to work whole-hoggishly loses and the persons start thinking in terms of freeloaders.

At international level the developed countries are skinning the developing countries as the feudal lords and the autocratic rulers frisk the public in the backward countries. In budding countries the role of state to fulfill the needs of the public is extremely negligible. Similarly, at the international level the function of the global economic organization WTO is exceedingly inattentive towards the developing countries. UNO and its offshoots have become mouthpieces of the western powers. The global caimans frame policies that helped the urbanized countries to rob the wealth of the emerging countries. This peeling of the weak nations by the power-boozed alligators is the basic reason for extremism and hatred towards the developed countries.