No ism can fail, be it communism or capitalism. I can show you 1/2 a century example where capitalism failed. Its the governance which can fail. China is so successfull because its their governance. Compare with Philipines and South Korea. Nepal was under capitalism ever since but failed too...
Dont show me how USSR failed and so on.. Socialism made USSR a super power who dominated half the world for almost a century. I will take that for my country if you gurantee me the same.
Where do you guys get your history lessons? And yes, there is more than enough evidence to prove the utter and pathetic failure of pure Communism. Surprising that this is coming from one living in the USA.
First of all, Nepal was a monarchy, not a Democratic system. It is now a multi-party Democracy since 2008. And it better stay that way.
There is nothing wrong with Capitalism. In fact, it is the best approach for any country. Look at Japan, it has no natural resources, and yet is it one of the richest and technologically advanced countries in the world. It was the very first Asian country to adopt Western technology.
Muhammad Yunus is already a hero of the Capitalist world and of-course Bangladesh. Ironic that he is so hated in his own country. Although I agree that there are limitations of micro-finance for the poor (i.e loan sharks).
Communism/Socialism can only work when we have a small population, and plentiful resources.
For Bangladesh, that is not the case. And in case you didn't know, one our country's key values is Socialism. I'd have to say, the AL and BNP have failed miserably to uphold basic Socialist ideals. It will never work either way. It has already failed.
The point for Bangladesh is that there must be a free flow of ideas stemming from formal education, and having strong links with educational and industrial/technological institutions around the world. This can benefit the government as well. And for that to happen, the private sector is needed. Small and medium sized businesses are very important.
If our government was just slightly better to begin with, our country would have done much better in the long term.