Need to look beyond capitalism

Why are we debating whether socialism has a future 20 years after the collapse of the Berlin Wall and immature assertions that predicted the end of history and ideology? Why is there a revival of interest in socialist thinkers across the world? The answer is simple. Capitalism failed to match the claim that it can address the social, political and economic concerns of people.The recent economic crisis has left poor people poorer even in the developed world. It is least surprising that market economy has become the god that failed for many people.
The search for alternatives to market economy is inescapable. This doesn't mean a return or revival of the models of crony state capitalism that existed under communist regimes in the USSR and East Europe. It is regressive to revive dead models but the sentiment behind the quest for an egalitarian social order could be retrieved. People are increasingly sceptical of capitalism not merely because of recent market failures but because they realise the limits of a politico-economic system that is driven by greed and competition. Human greed can't be the engine of progress. An economic system that needs to promote conspicuous consumption is not sustainable. In fact, such a system is a threat to the survival of this planet. As often said, there is enough to satisfy everyone's needs in this world, but not enough to satisfy everyone's greed. Technology can't always provide solutions to human greed. Capitalism can't accept limits to growth and profits. That will lead to systemic crises in capitalist economies, which they try to overcome by hunting for new markets and predatory accumulation of resources. This leads to social strife and wars.
The way forward is to build societies that manage resources both labour and capital in a harmonious way. That's possible only if the two categories complement each other and are focused towards the collective good of the society and not the private interests of a few individuals. The alternative may sound utopian, but what is human life without utopias to pursue?TIMES VIEW: This debate is irrelevant