4 common myths about capitalism debunked-
[fee.org]

I have a quick story to share explaining why I support free market capitalism.

Around mid July 2019 I started to rapidly lose weight, found I was constantly thirsty, and was consistently tired even though I slept a normal amount of hours. These among some other symptoms had only gotten worse by late August, so I went to the hospital. On August 27th 2019 I was diagnosed with Type 1 Diabetes, and the symptoms I had been experiencing were due to the fact that I went into DiabeticKetoacidosis (DKA), and came very close to going into a diabetic coma and possibly die (my blood glucose was over 700, a normal reading would be about between 80-120). Ended up spending nine long days in the hospital, mostly due to experiencing other side affects once my blood glucose was brought down to safer levels.

The reason I bring this up, is because prior to about the year 1922 anyone diagnosed with Type 1 Diabetes died, as there was no way invented to treat such. A clever scientist/physician by the name of Frederick Banting co-discovered insulin therapy to help manage T1D. Diabetics like me are alive today because someone realized he could possibly invent a treatment for a specific disease thus helping people, while making a decent living for himself. I am alive today thanks to free market capitalism, as in a strictly socialist society the monetary incentive would be removed to invent new things when everyone's basic needs would pretty much be fulfilled otherwise. Capitalism benefits both parties involved, while socialism only fills the gaps of basic needs. With that said, I am well aware that most civilized countries have a mixture of both socialism and free markets, but the latter of those encourages competition which consumers can benefit from and innovation which in turn improves living conditions for all. Knowing what I went through (and continue going through every day of my life now) and knowing that the free market system is still working to discover new ways to help people like me better manage their diabetes (artificial pancreas is being developed along with high tech blood glucose monitors), I am forever thankful to live in the society I do and will continue supporting the free market system.