What makes capitalism work?

Jagdish Bhagwati's "What makes capitalism work?" in Michael Kinsley with Conor Clarke,Creative capitalism : a conversation with Bill Gates, Warren Buffett, and other economic leaders (New York : Simon & Schuster, 2008; Chinese translation: 《從貪婪到慈悲：啟動金字塔底層的商機》，李芳齡譯，台北：天下雜誌，2009), pp. 190-2.)

Capitalism flourishes when one of the following five conditions exist:

1. the poor do not envy or resent the rich because they believe in the myth that the too can get rich;

2. even if the poor do not buy into the upward mobility myth, if the rich do not flaunt their wealth by practicing an ostentatious style of living;

3. the poor feel that the riches are deserved or legitimate;

4. wealth is not used for instrusion into politics;

5. last but not least, the rich spend their money not on themselves but on social projects.