Pros:
- Economic freedom helps political freedom
- Firms in a capitalist based society face incentives to be efficient and produce goods which are in demand
- Helps with economic growth
- Monopoly power. Firms with monopoly power can exploit their position to charge higher prices for their products.
- Social benefits are ignored
- Inhertied wealth and wealth inequality
- Societies which are highly unequal create resentment and social division.
- Dimenishes the Marginal utility of wealth
- Capitalist economies have a tendency to booms and busts with painful recessions and mass unemployment.