Ahmadinejad calls for alternative economy

Iranian President Mahmoud Ahmadinejad yesterday called for developing an alternative economy in the face of the total failure of socialism and capitalism.

Addressing the plenary session of the International Conference on Financing for Development here, Ahmadinejad hit out against the capitalist bloc.

Knowing (the problem) is the best way to address the problem. The capitalist bloc is facing an impasse in its philosophical, cultural and economic arena, he said.

The main cause of the crisis is the nature of the economic system, he said, adding that its foundation is built on the theory of maximum profit. Human values have no place in this system. The capitalists regard themselves as the superior class and seeks to impose their terms and conditions unilaterally on others, he said.

The whole system destroys the culture, national values and self-reliance of developing nations, he said.

Ahmadinejad said the current crisis had terribly shaken the epicentre of the capitalist bloc. In fact, America's economy was on the verge of a collapse during the post-Iraq invasion period. Now, the crisis has manifested in its full gravity. It is far serious than what the western media is reporting.

We need an alternative economic system. It must be indigenous, humanist and based on justice; also capable of checking the expansion of capitalist policy. Iran is fully prepared to realise this dream, he said.

Meanwhile, Zimbabwe's President Robert Mugabe said his country was a victim of coercive measures by those who want regime change. Criticising the EU and the US, he said the sanctions they had imposed on Zimbabwe were intended to control how the country used its resources. http://www.thepeninsulaqatar.com/Display_news.asp?section=Local_News&subsection=Qatar+News&month=November2008&file=Local_News200811305524.xml