Capitalism and Innovation

[Bamcis]

Hey all,

This will be my last semester in college and any time I have a writing assignment I try to write about business to force myself to learn more and what not. I have decided on capitalism for this assignment. More specifically I will be arguing that capitalism has led to more innovation than any other economic system. My rough thesis is "capitalism breeds innovation". I will be researching about other historic economic policies/systems like mercantilism.

I turn to the thread for two reasons. The first is to see if any non-US people can offer insight on their country's respected economic policies and how innovative they are. And the second reason is just to offer an interesting topic of discussion.

I suppose I should clarify what I mean by innovation. I do mean advances and developments in technologies, but also material goods, processes, employee standards, etc....... Essentially innovation isn't limited to just tech is what I'm saying.

 

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[TonyStark]

What's your question?

 

[Bamcis]

I suppose I can form it as a question.

Do people agree with me that capitalism leads to faster and "better" innovations, compared to other major economic systems? And why?

 

[Kid]

I suppose I can form it as a question.

Do people agree with me that capitalism leads to faster and "better" innovations, compared to other major economic systems? And why?

In reality - capitalism treats innovation as necessary evil.
Comparatively to other system - at least it allows it.

 

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[TonyStark]

Yes, because capitalism is a free market enterprise; whereas other economies production is controlled by the government.