You say "Capitalism is not the right system for the information age," but you don't say what should replace capitalism.
I think you are to imprecise when using the label capitalism. I think you are more meaning corporations. A person with an ox and an ox cart who hauls goods for a fee is a capitalist if they hold some degree of ownership of the ox and ox cart. The owner of a bar is a capitalist.
Doing away with capitalism means doing away with ownership. Is that what you mean to change?
Maybe you mean to do away with shareholding and owners with no personal liability? You see shareholders, under U.S. laws of incorporation, are not liable for the actions of the companies they own. This is something that should be changed but even changing that would not fix the problem because our system of justice is weak and captured by corporations so that corporate wrong doing rarely receives more than a slap on the wrist.
The socialist solution of the (government) owning all the bars and ox carts has been demonstrated to produce worse outcomes. Communism, the people owning everything in common trust does not scale. Sometimes it works fine at small scales, local levels like co-ops or employee owned companies but at larger scales it devolves to where a powerful leadership faction takes over for their own benefit and the people's check on the leaders is lost.
The better system is a hybrid of private, government and communal ownership. Guess what? That is what we have in the U.S.A. So what is wrong and certainly something is wrong? Balance and justice. Too few have too much power. It is Monopolist and Oligarchs who have captured the regulators to serve their greed that are the problem.
We need to free the government regulators from the chains that bind them to the will of the Monopolists and Oligarchs. No company should be so powerful that they don't fear our elected officials. Right now our elected officials fear or at least kowtow to corporate interests not vice a versa. Or just a evil is when our politicians and corporate elites conspire to their own ends and not the peoples best interests.
No, we should not end capitalism we should regulate it to the point that any corporate interest not in the people's best interests is not allowed. Anything that is too big to fail, can't function without almost completely dominating its market, or necessary for national security should be owned by the government.
TEK
