I didn't say it was perfect. It just sucks less than the alternatives. When capitalism works, you have several companies all competing for the same customers. The theory is that they have an incentive to improve their product while improving efficiency and lowering prices. The customer wins. People are employed. It all works. This often happens even today in our economy. But it also often doesn't happen. It's very easy for the balance to get upset which is why we have regulation.

When you have an 800lb gorilla in the market, Walmart is a good example, they can move into a town and bleed indefinitely until all the competition closes. Then they raise prices because they have an effective monopoly in that area. Then they erect barriers to entry to prevent future competition.

Another issue with capitalism is that as corporations get huge, they start to exert undue influence on government. You get the regulatory revolving door so that regulation, which is supposed prevent crony capitalism, actually ends up supporting it. But this is really a problem with the government. To fix this problem we need laws that bar people from crossing that line. If you work in regulation, you can never work in that industry. If you work in that industry, you can never work in regulation. And people breaking this and other laws need to actually go to jail. But it will never happen because too many people in business and industry are getting fat. And the politicians will never vote to turn off their own gravy train.

So what's the fix for this? It isn't socialism. Why? Because all of the greed and corruption that screws up capitalism will also screw up socialism. The problem isn't capitalism. It's human nature.

I spend 40 years living in the US under capitalism. I've seen it decline over the last few decades. I've also spent the last seven years living in a socialist country in South America. I know from experience what both are like. Trust me. You don't want socialism. Socialism sounds great, but will suck in practice. It's been tried many times and has never been successful because it's a flawed ideology that fails to account for human nature.