The myth of capitalist innovation

I can't tell you how many times I've been told that without capitalism there would be no innovation and how competition is good for society.

But I don't think you could argue that capitalism is what got us out of caves, what helped us discover fire, tools for hunting, the wheel or many of the most important discoveries that moved mankind ahead. The spirit of innovation predates capitalism and does not need it to survive. In fact, capitalism impedes innovation because instead of allowing good ideas to come to life, it adds the requirements of profitability and the ability…