In a capitalist country with 2 million people, all 2 million have the freedom to start a business, innovate, build better things.
In a socialist country with 2 million, only a small fraction will have the freedom to start a business, innovate, build a better product.
Capitalism although not perfect is a superior system for innovation and advancement. This is why russia and china have been forced to adopt free markets of capitalism over time. Its also the reason why venezuela a country rich in oil has suffered by attempting to nationalize toyota and making constant attacks on the private sector under a pro socialist banner which have reduced standard of living to a dramatic degree.
The thing socialism is best for is keeping people from having electricity and modern plumbing the way socialist north korea forces its people to live in an era before electricity was discovered. Socialism is only good for restricting innovation and progress and keeping people enslaved.
That is not true. You only have the freedom to innovate if you have capital to start up a business.
How to get capital?
1) Well either you are born in a rich family ( which most of us arent)
2) You apply for a business loan from a bank
But here is the catch, the bank requires a collateral. So are you willing to put your house as collateral (if you even have one, usually you have that under a mortgage already), given that 90% of small businesses go bankrupt after 6 months or something like that??
Yep small businesses have a 90% failure rate, and then you not only lose your business but also your house that you put up as collateral.
Brilliant isn't it. Now you are a homeless guy enjoying the wonders of capitalism.