7 Fact You Don't Want to Hear About Capitalism in Nigeria

Summary: Definition summary story feature Socialism course. Capitalism has built the industrial age of the western world, and it served it’s purpose well, it’s an aging paradigm which...

Buhari With a Capitalist.

Capitalism is the economic and social system in which the means of production are private owned; production, pricing of goods and services and the distribution of income and wealth are determined through a market economy of elites. The trouble with Capitalism is that it has it has no history of ever working for the benefit of society as a whole. For example, when one percentage of the our society is very rich and the rest very poor. ;)



1. The Problem in Nigeria.
Problems arise for the population as a whole when the private owners of production, labour, and services abuse their position knowing that demand for what they own can generate a disproportionate price at the expense of the consumer. For example the controllers of a labour supply in that oil industry, might wield disproportionate power, knowing when cooking gas or kerosene is in demand by the community for use in their homes or fuel for their generating set, then a disproportionately high price can be demanded for the labour.

2. The gap between rich and poor.
There has been a steady widening of the gap between the rich and the poor, because individuals within society do not receive what they are necessarily worth to the community, but individuals receive the income that they can extract. This gap is extremely malicious the truth is that many activist dreaming to cover this gap are simply jealous.

3. Benefit of capitalism in Nigeria.
I can't claimed that "capitalism has no history of ever working for the benefit of society as a whole." this would be a fallacious claim made in complete ignorance of historical anecdotal evidence. OR it is a claim made with the specific intent to disparage any other view of history with malignant intent. Deception, fraud, dishonesty, graft, corruption... all these things follow human beings because we're all prone to these vulnerabilities. Whatever system, both political and economic, none have been anywhere nearly as successful as the free market in producing the greatest good for the greatest number of people in the world. Any claim to the contrary is a pronouncement of utter ignorance.

4. The paradigm of capitalization.
Capitalism has built the industrial age of the western world, and it served it’s purpose well, it’s an aging paradigm which has reached it’s maturity which encourage competition. I'm not against competition because its creates more losers than winners in the long term, if it was not so capitalism would have produce more rich than poor. the losers experience increased quality of life due to the winners innovation. rich people give their hard-earned money to the poor, many of which do not work and earn money. From this, people who do not deserve money receive it and people who worked hard for money have to give it away. It just is not a proper system to follow, Yes I mean work and pay should be  available to every man and woman who is ready to work and get paid or earn.

5. Is Nigeria a capitalist Nation?
Nigeria operate a free and open market economy where anybody willing to make money can make money the way he choose to make it legally. It have been so since independence, its wasn't a clear cut capitalist economy then as many conglomerates where government own until they was a complete privatization in Nigeria in 2007.
The copycat mentality of those in the Nigerian government has made then obey every piece of advice that arrive the country suited up in black and speaks English.

6. Capitalism in the Nigerian settings.
Theoretically modern capitalism is “good” for the population as labour interest is protected by law. Properties in the capitalist theory is own by an individual which is only transferable by will to another party or parties. Negating the fact that properties are own traditional by the communities until today in Nigeria.

• Nigeria is a clear capitalist economy and when the common wealth of the our country is enjoyed by less than one percent of the populace I do not know what to call that. *
• I can never mistake democracy for capitalism. *
• Nigerian people, properties, business or interest are sold especially to foreigners *
• Care of the Nigerian people should be at heart when routing for Foreign Direct Investment (FDIs) *

7. * I rest my case because online readers don't like too long articles.

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