Imagine a country that, over the last 50 years, has transitioned to an economic system where private individuals own most of the factories and equipment, workers are hired to produce goods, and these goods are sold in competitive markets. During this period, the country has experienced rapid technological advancement and a significant increase in average income. However, it has also seen a dramatic rise in income inequality and severe environmental pollution. Based on the core principles of a capitalist economic system, construct an argument evaluating whether this transition should be considered a 'success.' Your evaluation must address both the positive and negative outcomes described.