TED Conversations

This conversation is closed.

If capitalism is so evil, why are the most prosperous coutries on earth capitalistic? China's prosperity began when it adopted capitalism.

Socialism produces dependence upon the state and kills individual initiative.
Capitalism(trickle down economics) allows the individual the opportunity to succeed or fail, depending upon his/her talent, drive and opportunity.


Showing single comment thread. View the full conversation.

  • Apr 26 2011: I think that you should properly define "prosperous" in your question. Most people in any society that has private interests in the economic system are not prosperous, but use the majority of their income on bills, rent, and interest. With capitalism you also get recessions every 20 years that leads to wealth shifts (i.e. in the U.S. in 1970 the top 1% owned about 20% of the country's wealth and nearly doubled by 2000). The problem with the socialist and communist governments is that they, like the capitalists, use the means of production primarily for their own groups interests. With your argument about socialism killing individual initiative, capitalism doesn't provide the best way either. competition is counter productive to creativity. Everyone is working on their own initiative, rather than collaborating, and hinders progress. also, people are more likely to alienate those who could be of help to them and it negatively links everyones fate. if i succeed at something, then you must fail, which only allows those that think they have a serious chance of success to participate. In capitalism the individual would have an opportunity to succeed or fail on their own if the chances for success were equal. People are born in different countries, with different socioeconomic status, different educational opportunity, different social influences, different resources of success (i.e. educated parents), and a different gender or race, which if you've ever heard of "the glass ceiling", then you'd know how that can have an effect as well.

Showing single comment thread. View the full conversation.