This is a decent youtube clip emphasizing positive aspects of capitalism.
https://www.youtube.com/watch?v=_n6ivGgb9RYMore fuel for the discussion on capitalism fire.
The main point alleged here is: "
world poverty has fallen by 80% since 1970".
They claim
capitalism is the main driving force behind reduced levels of poverty over the past 5 or so decades, which in turn implies capitalism creates elevated living standards.
I think capitalism, true capitalism is the reason for the increase in living standards over the last 200 years but I would say that its important to make sure true capitalism is still being promoted today. I do think its the best system we have at the moment but I also think it can be improved. Its important to note that capitalism is an economic system where private owners control a countries trade and industry.
But what happens when these private owners get too much power? I think the advent of the internet throws in some curveballs because globalisation is now becoming very real. At what point does it become too centralised? I do think we are starting a shift into something other than capitalism. The name of it im not sure and what are the guarantees this trend of peoples living standards raising will continue, again im not sure this is guaranteed either.