“There are people who don’t like capitalism, and people who don’t like PCs. But there’s no-one who likes the PC who doesn’t like Microsoft”. Bill Gates

Don't Know
4 min readMar 12, 2021

Is capitalism good, good is not the best word to use, the word should be better. Better than what, to that I say socialism. Before getting any ideas, let me explain my point of view, then you decide which is better.

My first point is Renaissance. Renaissance is a period where a fervent resurgence of European cultural, artistic, political, and economic “rebirth”, following the Middle Ages, generally described as taking place from the 14th century to the 17th century. Why I am talking about this period is because of Medici family. They single-handedly changed how the world work. So, how does the Medici family come to play role in capitalism? First and foremost they were bankers. what is more capitalist than bankers. They invested in artists, construction projects, and they even invested into Royals. They practiced a form of capitalism which ultimately changes the world. There is a dark side to their story, I’m not denying that there is always a dark side. We all are humans, we all have to make decisions we aren’t proud of; even the people we consider as great. You have to agree with me because with the actions of the Medici family the world became a better place.

The next point is about counties that support socialism and capitalism respectively. Let us look at some of the extremist countries which are governed by each system. The Democratic People’s Republic of Korea (North Korea) is one example of a Socialist country. While on the other end of the spectrum we have good old USA. Look how far their lives differ. While in the USA people talk about hate crimes or rights of LGBTQ, while in North Korea people struggle just to survive (look at all the videos made by North Korean defectors). That doesn’t mean the USA is this perfect country or something like that, but compared to some countries (especially socialist counties) living in the USA is 100 times better than living in an extremist socialist country. Someone can argue that China has implemented socialism effectively and successfully in spite of the fact that some other socialist countries failed to achieve the same heights. Their life is good, and there are lots of wealthy people in China, that is true but there is a problem; Look at their freedom of the press, rights of minorities, wealth distribution, or even rights of LGBTQ?.

The Third point is the impact it has had on the modern world. Look at the wealthiest people in the world, I mean not the people with oil money (I’m not saying they are bad or something like that, someone finding an oil preserve in the back yard and becoming a bilinear is not that common. This is only a joke, of course, they worked hard to get where they are now). I’m specifically talking about people with moderate family backgrounds becoming millionaires or billionaires. For example, Bill Gates, Elon Musk, or Warren Buffet, became billionaires as a result of Capitalism. Even the 7 out of 10 billionaires in the world are from Capitalist countries like The USA and France. Who owns the world’s largest non-profitable organization? The answer is Bill Gates, the founder of Microsoft who invests billions of dollars into Africa and other countries. I know thanking capitalism isn’t the right thing to do, but I have to say that because of capitalist policies, people like Bill Gates or Warren Buffet can earn money and also spend that money in a well-mannered way.

The Last point that I’m going to make is the freedom people get in a capitalistic environment. Look at the Peoples’ Republic of China, how their government restricts people’s freedom. For an example, look at jack Ma’s incident, he disappeared from the limelight for more than 3 months just because he talks against the Chinese government. When you look at countries like the USA or the United Kingdom, just consider the kind of freedom that prevails there, a case very much in point is how President Donald Trump got hammered by mainstream media or by comedians like Treva Nova. Trump’s vehement critics did not end up in jail or disappeared, they just kept continuing on the same path, while in China people go to prison just because they talk against the Chinese government. Now you can see the difference.

Both socialism and capitalism have both good and bad, even their ugly claws, there is no doubt about it. But, if I have to choose between a capitalist county and a socialist county I will gladly choose a capitalist Country simply because of freedom one may enjoy under capitalism.