Natwerk Designs

Whether only the capitalism can motivate or accelerate scientific innovations?

Industrial revolution and the consequent scientific innovations first appeared in a country (UK) which subjugated feudal form of governance and introduced modern capitalist parliamentary democracy and capitalist way of life. This is a fact. But whether only the capitalist way of life can sustain and accelerate scientific temper and consequent innovations in a society?

Public Comments

1. Capitalism is not the only way to promote scientific discovery and technological innovation; but it is one of the best, if not *the* best. Much of the innovation associated with the Renaissance was fueled either by simple necessity (population depletion caused by the Black Death), or the patronage of wealthy lords. Even then, it should be remembered that most of the patrons in Italy made their money from commerce; they were, effectively, the first great capitalists.
2. Well I should say that though capitalism is not the only economic system around, it may perhaps be the best way to promote innovations in individual centric areas of scientific pursuits. Take the case of innovations arising out of venture capitalism, there capitalism had succeeded. On the other hand, look at space technology, Soviet Communism had a lead over American Capitalism for a very long time. Perhaps in the first case the presence of a "principal-Agent problem" in other economic systems leads to problems and in the case of the latter, the absence of the same enables non-capitalist systems to perform better. Perhaps!!!!
3. A lot of innovations have come from people who aren't motivated by personal gain. Creative people probably would continue to explore no matter what economic system they're living under. The real issue is, what's the best way to promote those innovations for the good of all? Although it may seem that a communist or socialist society is more altruistic, I think that's a myth. But in a free market system, useful inventions will find a niche, and useless ones will disappear.
4. Capitalism does encourage scientific innovation, and sustains it by linking it with the profit system through patents and copyrights. Innovations find easier acceptance through advertisements. Price mechanisms adjust the lower costs if any of an innovation with higher profits, and thus automatically rewards the innovators. But certainly capitalism is not the only system under which these conditions can thrive. China is an example where a capitalist veneer suffices, even though the core is not profit oriented.
5. No, that´s a myth, there are hundreds of Capitalist countries and only a few have significant scientific development. Examples of Capitalist countries : Haiti, Israel, Egipt, Afghanistan, Borneo, Zimbawe, Paraguay, Bolivia, El Salvador, Pakistan, etc, etc, ...... etc...
6. Yes. the only other "engine of innovation" is war - portable radio, computers, space flight, GPS were all initially developed for military uses. And you must agree that capitalism is a much better way of life than a state of war. You can extend your historic examples to Soviet Union, which was mostly imitating western technology, and rich rich Arab states that again import all technology from the west. Unlike that "Bolshevik" dude above, I define Capitalism as a system where rule of law lets people receive the full benefit of their work. Which makes only Israel a capitalism country.
7. The vast majority of innovations thru history have been a result of individuals having the time and resources to discover and produce. Capitalism is a form of sucking efforts of people (or natural resources) for personal gain, it has little to do with the intelligence / creativity needed for innovation. What does accelerate scientific innovation is providing those with the skills (intelligence / creativity / knowledge) the resources to innovate.
8. Get rich quick schemes in the capitalist business world, (buyouts, IPOs, conglomerates, acquisitions, mergers, and the stock market), do not actually work. Remaining solvent does not actually exist within false economics capitalism. Profit existing in the capitalist business world, or millionaires existing within capitalism, is pathological deception committed by the 21 organizations spying on the population with plain clothes agents, (with covert fake names and fake backgrounds). Actual economics is the persons that are paying the business loans of companies voting at work in order to control the property they are paying for. Capitalism is the psychology of imaginary parents, false economics, and the criminal deception of employees that are paying the bills (including the stocks and bonds, or shares) of companies. Anti-Democracy republicanism is the psychology of imaginary parents, and false government.