My reply to Shishir

Submitted by Debanjan Banerjee (India), May 7, 2012 at 04:26

"Actually yes the West adversely affected by one particular type of Western financial system-socialism!"

My Answer : Can you kindly explain in simple terms what is meant by socialism and how it is affecting the economies of the Western World that it is in so dire straits now ?

Can you also kindly specify when did USA and Europe went to socialism ? The USA has been ruled in the last 60 years by fiscal and free-market conservatives like Eisenhower , Nixon , Ford , Reagan and Papa Bush and two terms of baby Bush. So can you say were these people socialists ?

Can you kindly also explain how US is the World's biggest indebted nation when we consider that the US likes to boast itself as the home country of Protestant work ethic and industriousness ?

Considering the fact that China has been the fastest growing economy in the last 30 years and how it is soon to overcame the US economy by this decade (according to luminaries such as IMF and Goldman Sachs) , so do you want to say that Chinese are best practitioners of protestant work ethic than the protestants in the USA itself ?

Also I am yet to see from you any explanations regarding what is Islamic finance , how it is implemented in Turkey and how it is endangering Turkish economy.

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