A definition of capitalism I like is this: Capitalism is where the gains/profits are not just consumed. They are re-invested. That's where explosive growth comes from. You make some money. Instead of blowing it on wine, women, and song, you use it to buy better tools. So you are more productive, and so you make more money. You use that to buy even better tools. Spread that behavior over a large chunk of society, keep that up for several decades, and you'll get a pretty explosive growth of value.