None of that is magical thinking - it's a rough history of the past 50 years. It's what we've already seen.
So correlation is causation in your ideology? Can you think of any other correlations for the same period of history? Cancer causes cellphones
Please explain how Capitalism is what spawns innovation.
It provides both the incentives and the means.
My business is innovation. In my experience (let’s call that a verified data point), Capitalism isn’t what spawns innovation.