For example, in capitalist countries, economic growth is at 3.94 percent compared to non-capitalist countries having a growth rate of 0.37 percent(Meltzer). In addition, in the average based capitalist country in the last 25 years since 2010, the average citizen gained a 34 percent increase in income(Independent Institute). These statistics portray how capitalism increases economic growth which is advantageous to society. To clarify, if people are experiencing an escalation of income, it creates economic growth because consumers are able to afford the products of private companies in capitalist countries thus bolstering the economy. Correspondingly, it also decreases unemployment because when companies are acquiring profit and the economy is sustaining itself, more companies are willing to hire people because they have the resources to do so. Ultimately, capitalism raises economic growth proving why it is the ideal economic system but it is not the only
For example, in capitalist countries, economic growth is at 3.94 percent compared to non-capitalist countries having a growth rate of 0.37 percent(Meltzer). In addition, in the average based capitalist country in the last 25 years since 2010, the average citizen gained a 34 percent increase in income(Independent Institute). These statistics portray how capitalism increases economic growth which is advantageous to society. To clarify, if people are experiencing an escalation of income, it creates economic growth because consumers are able to afford the products of private companies in capitalist countries thus bolstering the economy. Correspondingly, it also decreases unemployment because when companies are acquiring profit and the economy is sustaining itself, more companies are willing to hire people because they have the resources to do so. Ultimately, capitalism raises economic growth proving why it is the ideal economic system but it is not the only