Criticism of Capitalism

Criticism of Capitalism

In the 300 years or so of its existence capitalism has transformed the planet over and over again. Rail, electricity, the internal combustion engine, flight, space travel, telephones and electronic computers, the list is endless. 

The world economy is 17 times the size it was a century ago. In 1900 there were only a few thousand cars worldwide. Now there are 501 million. 

Engineers built the first electronic computers in the early 1940s. In 1949, Popular Mechanics magazine predicted that 

"computers in the future may have only 1,000 tubes and weigh only one and a half tonnes". Today the smallest laptop can process more data than the most powerful computers in the world 50 years ago.