This response confuses capitalism for democracy — the countries that thrive economically are the ones that juxtapose market systems with democratic accountability and substantial public-sector investments in infrastructure. As capitalism takes over democratic functions of government, all of this prosperity-generating infrastructure gets neglected and the society goes into decline. Most American citizens have lived through this very process in the last 40 years.
It is also important to keep in mind that the spread of capitalist systems was achieved by toppling dictatorships, building a global military system for invading countries to steal their resources, using solitary veto power in transnational institutions to create unfair and extractive trade agreements, while syphoning off this wealth in structural adjustment debt repayment programs, and so forth. This is not how to build an inclusive, prosperity-generating economic system.
Also, when one paints the world in black and white… as if capitalism and socialism were all that could possibly exist, they conceal both the immense harms created by capitalism (mass poverty, extreme wealth inequality, damaged environments, runaway consumption driving the ecological crisis, and so forth) and the beautiful diversity of real-world societies that have existed throughout history.
Such a stunted imagination leaves little room for realistic thinking about the problems of the world or their solutions…we can do MUCH better than the false choice of capitalism versus fascism (painted under the boogeyman propagandist term of “socialism”). I have benefited greatly from broader study and so have many others who are commenting thoughtfully on this article thread.