Evert Cilliers over at 3QuarksDaily examines the deficiencies of capitalism in the modern world and how it can be improved.
The fact is that capitalism is a feudal system, which therefore works well in a feudal society like China.
But in modern, highly evolved democracies, capitalism is a handicap.
Why? Democracy has evolved, but capitalism hasn’t. It’s essentially unchanged from its 18th century origins. Capitalism is so feudal, it’s almost medieval. It requires a subservience from its minions that hints at slavery, serfdom, or peonage. It grants its captains of industry the freedom to lord it over everyone else like banana-republic dictators or command-economy Kremlin bosses.