There’s something to be said for the fact that in a monopoly, the logical conclusion of capitalism, there is also a lack of competition and incentive to innovate.
To answer your question, though, if everyone’s needs were actually met why should anyone work? Within the century we will be living in a world where a lot of our most basic needs can be fulfilled by fully autonomous machines. Who should benefit from this? A few trillionaires, while the rest toil their lives away? Or the majority, whose lives can all be improved?
Likely every country will answer that question for themselves. But I submit that a country where there are the better part of a million homeless people (including children) and a handful of space-faring billionaires and celebrities hardly has the moral authority to shake their fingers at the others.
