Democratic societies are based on the fundamental principle of the right to private property. The opportunity to accumulate wealth led to social inequality and raised numerous social issues. At the same time, a wide range of other democratic principles ensured social security and a number of policies that helped maintain proper living standards for all citizens. Moreover, free trade and economic liberalization have historically been extremely beneficial for all parties. They provide virtually the only option emerging economies have to accumulate initial wealth that can allow them to build their own high-tech industries. Despite the fact that climate change has become a serious issue, capitalist nations are definitely not the only ones to blame. Although Smelser and Reed (2012) argue that participative styles of leadership may not show the best results in non-democratic societies, they claim that it is still the most appropriate option for democratic states. Therefore, nations that have long been struggling to ensure that the capitalist system supplements the merits of democracy should not give up their achievements.
Smelser, N. J., & Reed, J. S. (2012). Usable social science. University of California Press.