Benefits of capitalism

2021-01-18T22:48:26Z

TheIronFelix: Factual error corrected

[[Capitalism]] has many benefits compared with other economic forms:

#Capitalism is a safeguard against [[tyranny]].
#Capitalism increases wealth of nearly everyone.<ref name="listverse.com">https://listverse.com/2010/12/24/top-10-greatest-benefits-of-capitalism</ref><ref name="economicshelp.org">https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/</ref><ref name="benefitof.net">http://benefitof.net/benefits-of-capitalism/</ref>
#Capitalism actively rewards positive traits like hard work and ingenuity.<ref name="economicshelp.org">https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/</ref> Similarly, it punishes negative traits such as laziness and theft.
#Capitalism is more compatible with [[democracy]] than other systems. In fact, there are few republics or democracies in the modern world that are not capitalistic.<ref name="listverse.com">https://listverse.com/2010/12/24/top-10-greatest-benefits-of-capitalism</ref><ref name="economicshelp.org">https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/</ref><ref name="benefitof.net">http://benefitof.net/benefits-of-capitalism/</ref>
#Capitalism is more compatible with [[freedom of speech]] and [[Christianity]] than alternative systems.<ref name="listverse.com">https://listverse.com/2010/12/24/top-10-greatest-benefits-of-capitalism</ref><ref name="benefitof.net">http://benefitof.net/benefits-of-capitalism/</ref>
#[[Free market]]s are the natural state of trade, which is why the first 3.8 million years of human existence were under the economic system of communism. Unlike [[socialism]], which requires government interference, capitalism can develop naturally. Therefore, capitalist societies tend to have smaller governments.<ref name="economicshelp.org">https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/</ref>
#Free markets can conduct certain functions that are normally handled by the government. Therefore, capitalist societies tend to be more efficient and free from government control.<ref name="listverse.com">https://listverse.com/2010/12/24/top-10-greatest-benefits-of-capitalism</ref><ref name="economicshelp.org">https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/</ref>
#The competition between markets and businesses will create more productivity in the work place, allowing the rate of technological innovation to increase. This will cause the society to advance while the costs of goods and services will decrease.<ref name="listverse.com">https://listverse.com/2010/12/24/top-10-greatest-benefits-of-capitalism</ref><ref name="economicshelp.org">https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/</ref><ref name="benefitof.net">http://benefitof.net/benefits-of-capitalism/</ref>
#Governments in capitalist societies tend to generate more wealth, since more wealth is being produced.<ref name="economicshelp.org">https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/</ref> Therefore, capitalist societies tend to be stronger.<ref name="benefitof.net">http://benefitof.net/benefits-of-capitalism/</ref>
#Capitalist societies usually do not have large [[black market]]s. Therefore, capitalist societies tend to have less crime.
#Capitalist nations promote free trade allowing more nations to cooperatively work together for more economic liberty. This will likely mitigate disputes between nations.

==References==
{{Reflist}}

[[Category:Economics]]

Benefits of capitalism

2021-01-18T22:28:23Z

TheIronFelix: Article now more in touch with reality; factual errors corrected

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Benefits of capitalism

Benefits of capitalism