Here is one of the headlines at World Magazine, November 27, 2008: “The return of British Socialism”. The title took this declaration based on the recent proposal of tax increase suggested by Prime Minister Gordon Brown, if his party re-elected in 2011. The writer associated this with the claim against President-Elect Barack Obama  as a Socialist because he was suggesting tax increase against those who make more than 250, 000. Here is the leading opinion of the article: "Prime Minister Gordon Brown’s so-called “fairness agenda” sounds a lot like the language used by Democrats in the States".

It is true that signs are increasing in Europe, Asia, and South America where even pro-capitalism, if not authentic right wing, parties are promising reforms that might discourage entrepreneurship. That may be a warning sign for supporters of free-market economy and individual entrepreneurial spirit but it should not be considered as the second coming of Socialism and frighten everybody. This approach of representing Capitalism is not productive both in short and long term. These signs should not have been taken more than alerts for supporters to revisit this  centuries old principle. Rather, it should have been considered as a timely call to maintain 'the vehicle' so that it could further propel free-market economy throughout the 21st C without hurting those it suppose to serve

Proponents of Capitalism might be over reacting out of fear that the general public is undermining the benefits of Capitalism and might quickly resurrect Socialism. Yes, this is the right time to engage in pursuing a rescue mission before it is too late. However, we have already indicated in one of our commentaries entitled "Change is due across all systems..." that 21st C deserves change, which is due for most ideologies, systems, and principles and Capitalism cannot be exceptional. In that commentary, we quoted the headlines of many mainstream printing media that call for attention that Capitalism is at bay, wondered, and threatened.

These campaigns are timely but their purpose should be to call for more strategic and long term approaches to salvage Capitalism than over emphasizing how  the other alternative- Socialism- is bad. Rather than focusing on the aftermath of Capitalism's demise and how Socialism is the worst scenario if the former is abandoned, why not spending that energy to propose better reforms and alternatives? Why not proposing reassuring fixes for temporal challenges and make amendments by projecting how Capitalism is a best bet to succeed in the 21st C, which in turn helps to regain public trust?

This is really a good chance to invite fresh and innovative insights that evolve the 20th C Capitalism into its next brand that could withstand the 21st C challenges. Its core principles still makes it the only viable ideology to promote pro prosperity competition, stable economy, and sustainable man kind welfare. Rather than calling the once unpopular and dead ideology into the scene, there should have been true confession and self assessments that might prompt the public to buy into the longevity of Capitalism. For example, there are many indications that Capitalism is betrayed by some business leaders. Why not hammering that than redirecting towards Socialism and/or finger pointing towards those leaders who are trying to contend the fall out through some policy measures?

Partly, the credibility of Capitalism is eroded by unethical and too much selfish greed of leadership in businesses. Proponents of Capitalism need to call for a healing crusade to rebuild the wounded Capitalism. Calling those genuine and caring efforts, to avoid more damaging consequences of unstrained pursuance and abuse of Capitalism's ideologies, Socialistic cannot be a solution. By the same token, demonizing Socialism than taking appropriate corrective and progressive measures is a distraction, to say the least.

Arguing what Socialism can offer in comparison with Capitalism is the least thing to invest time and energy. The 19th C Karl Marx's hypothetical assumption that Socialism and Communism could enhance collective prosperity proven wrong after costing so many lives, precious time, and resources. For that matter, who is committed to resurrect Socialism? The former fans of Socialism like China and Russia have been making many reforms to accommodate free-market economy over many years. Not only affluent and progressive leaders of the 21st C, staunch former Marxist leaders shouldn't be underestimated as if they dare to experiment this tenet again and in our generation. 

On the other hand, centuries old ideological orthodoxy, which believes in allowing and protecting individuals to strive freely contributes for the betterment of their society proven right again and again. Taking the weighty hands of governments out of the marketplace equation and restraining it from making decision on behalf of individuals long established truth and the only way out to allow individuals in enjoying their God-given inalienable rights. We should remember Adam Smith's work, Wealth of Nations. In this work, Adam argued that the natural effort of every individual to better his own condition, when suffered to exert itself with freedom and security is so powerful a principle, that it is alone, and without any assistance capable of carrying on the society to wealth and prosperity. There is no time and luxury to reinvent this wheel!! This is not time to doubt as if there is ideological vacuum.

However, there is no doubt that the current global financial crisis has become costly for the reputation of free market economy. This calamity gave a free pass ticket for governments who got excuses to expand their share within their economy and portray a lion share role in leading their economy. Former Federal Reserve Chairman Greenspan discussed in length, during his recent speech at George Town University, how democracy like free press and individual property rights played vital and historic role in promoting wealth, stability, and prosperity. He built a powerful case for ideologies of Capitalism by bringing so many examples and begged stakeholders to refrain from betraying this ages old precept. However, he didn't fail to admit that though the principles behind free market system is sound, lack of integrity spawned the current financial crisis.

We need this kind of lobbying and arguments than cynical approaches out of zeal for Capitalism. It is apparent that the current catastrophe is not in favor of Capitalism. At the same time, the probability of the world reverses its course and endorses Socialism is also unlikely. There is no practically vital momentum that can resurrect Socialism from its burial and the recycling bin of human history. However, it becomes obvious that the global economy is in peril and the world is in Emergency State. Recognizing this state, countries are taking steps undermining the principle of less government involvement and deregulations. While observing this perceptible reality, it is not wise to just act blind-loyal. Without admitting some oversights,  implementation failures, and irresponsible deeds of those who abused the benefits of the system, while reintroducing this noble ideal to the 21st C generation, the public cannot give its focused attention and ultimately its trust and support.

The heavy hand of governments and too much limiting factors is not pleasant and should not remain there for long. However, over reacting against those temporal reactions by some friendly political forces towards individual liberty and private property ownership in response to some ad hoc crisis should not be over exaggerated. Associating any effort like tax increase against the wealthiest as a coming of Socialism is also unfair. For that matter, Adam Smith himself said, "It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

The wave of Socialism that shaken the world and its scars were a few decades away. Its gloomy offer in some part of the world are still in the minds of many people who are now players of the free economy. We cannot be forgetful of, in just a few decades, its embodiment threat against individual liberty, freedom of religion, and innovation to adopt it as a best bet alternative against Capitalism. Socialism never been a propelling engine to those countries who practiced it. It disappointed them and others who fought against it shouldn't be fooled this time around and be the latest victims. But using that fear to rescue Capitalism whose reform has due long ago won't release it from being kept at bay or heal its wounds.

The tactic of scaring the public of the second coming of Socialism didn't work effectively, especially seeing the 2008 Presidential election outcome in the US. The challenge rather to advocates of Capitalism is to show solidarity for those temporary responses and work hard on how, in the long run, to reserve the outstanding features of Capitalism by incorporating some reforms worthy to fit the 21st C. There are many new challenges that came with the new Century, which Capitalism cannot just ignore. Some of the challenges are the priorities of the generation like the issue of environment, HIV/AIDS, and more, which shouldn't be out of the new equation. New wins are pouring following the coming of new Century and they need a new Wineskin; the old one is bursting all over However, the pattern of the Wineskin should follow the same one that was tested, produced result, and endured for years.

In order this ideology remain on the driver's seat and in commanding position, it should proof itself again as relevant and beneficiary for collective success. The real challenge Capitalism has is to reassure humanity that it is still capable to bolster prosperity, stability, progress, and innovation with minimal adjustments to respond the challenges and opportunities of the 21st C. Otherwise, sarcastic approaches and fear mongering towards some friends of the core values of Capitalism and the free market don’t solve the stand-off. It is not time to scare both friends and foes alike. It is time to  bring all forces including those who started doubting Capitalism.

Last but not least, if changes are not coming on time and convincingly, frustration might undermine the qualities of Capitalism and overrides it at once. Before governments are considered as the solely compassionate life savors and over regulations as the strongest life-belts and over burden economies and constraints entrepreneurial spirit, well-thought and conscious changes the 21st deserves in our economic models and beyond, not sarcastic approach, polarization, and distractions!! There might be many reforms needed over time and some changes may require cautious moves but it becomes obvious that it takes business leaders motivated by transcending values than greed and temporal profits. It takes to build confidence of the public to the extent that they believe these leaders are more trustworthy than their respective governments and rigid regulations....