Why capitalism is awesome?

An interesting essay.

It mentions the benefits of capitalism centred around the innovation idea. Capitalism helps provide more incentives to innovate and quotes nice examples from Pizzas to Pork.

Each year the glossy business magazine FastCompany releases a list of what it considers to be the “World’s 50 Most Innovative Companies.” This list is populated much as you would expect. In 2012 the leader was Apple, followed by Facebook, Google, and Amazon.com. Spot a theme? In the top 10, there are only two companies that are not primarily digital companies. One, Life Technologies, works in genetic engineering. (The other — try not to laugh — is the Occupy Movement. FastCompany describes them as “Transparent. Tech savvy. Design savvy. Local and global. Nimble.”) Not only are most of them digital firms, but they’re all flashy and unique, and they’re almost all household names.

Everybody from Forbes to BusinessWeek hands out most innovative company awards. They’re all pretty similar and predictable. But these lists have a perverse effect. They suggest that the great success of capitalism and the market economy is inventing cutting edge technology and that if we want to observe capitalist progress, we should be looking for sleek design and popular fashion. Innovation, the media tells us, is inventing cures for cancer, solar panels, and social networking.

Though, it basically is a one-sided view of capitalism.

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