It's not the concept, it's the practice.

"In a fascinating paper,....economist Nimish Adhia has shown that the 1991 economic reforms were preceded by a shift in popular narratives about capitalism in Hindi films," wrote an editorial in the Mint. "His content analysis of the most popular Hindi films since 1955 is startling. Businessmen who were once habitually depicted as villains, gradually began to be shown in a more positive light. Movies that celebrated wealth did well at the box office." The recent allegations of serious conflict of interest regarding the CEO of ICICI Bank, and of outright misappropriation of funds from  Fortis Healthcare group by its promoters, who took loans from other group companies to cover their tracks, and the Nirav Modi scam, have cast doubts on capitalism. "Arvind Subramanian has described the situation well -- India has moved from crony socialism to stigmatized capitalism." Although there is clear evidence that capitalism "is more successful than socialism in raising living standards" "There are popular demands for regulation when voters believe that wealth is created through corruption than competition". Capitalism is a concept, like Marxism. Its success or failure lies in how it is implemented by those who are in power. All countries have adopted three-fifths of Karl Marx's ideas, wrote Prof D Gupta. "Progressive income tax, national central banks, state run communication services, cultivating waste lands, right to work, eradicating town and country differences, providing free education, and, finally, banning child labour comprise the bulk of 'communist' policies advocated in the Manifesto." "Perhaps we democrats are more Marxist than Stalin's Russia, Mao's China, Ceausescu's Romania, or Hoxha's Albania." Prof S Rajagopalan explained why, if Marxism is so good that all democracies have adopted most of its ideas, it failed so miserably in Communist countries. Altruism maybe a biological necessity for survival of species but if you borrow on your credit card to help others and go bankrupt in the process you will not get any sympathy. India is not a fully capitalist country, though there are many successful private businesses, when the government controls over 200 companies, from engineering to banks to airlines. We are part socialist. Indians are taxed heavily to pay subsidies to the poor through many social schemes, which fulfill the basic tenet of communism, which is "from each according to his ability, to each according to his needs". In the Indian system the government is a much bigger bandit than robber barons. It is planning to loot the Life Insurance Corporation of India to save a failed bank, IDBI. Even worse, it looted Rs 1.5 trillion to fund another loss making enterprise, Indian Railways. We have to find another 'ism' for government loot.