Machine Learning

WHY DO YOU NEED CAPITALISM TO CREATE INNOVATION

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Synopsis

This question is very subtle Capitalism is often vilified for being a zero sum game€ The idea is that if someone succeeds, someone else must necessarily fail This is a gross oversimplification of the way markets actually work Ironically, it is precisely because of capitalism that we have such a powerful engine of innovation in the first place The reason why so many of us have so many innovations to choose from is because capitalism is a market system that empowers entrepreneurs The marketplaces€ of ideas is constantly evolving and improving Societies that embrace capitalism will have the most powerful engine of human ingenuity, while those that reject capitalism will be left behind It is true that many innovations are the result of collaboration and thus have multiple innovators The most successful innovations were the result of many minds working on the problem together Sometimes, it is a matter of pure luck But we should not dismiss the role of pure innovation and entrepreneurship in th