A bad implementation of capitalism is no reason to discard capitalism as a whole. In the same way, a bad life is no reason to abandon life.
Indeed, capitalism doused in oligarchically controlled freedom is exclusive capitalism; the opposite of a dynamic meritocracy needed for humanity to evolve to the best of its ability. Yes, exclusive capitalism (like other forms of dictatorships) will create temporal value the world envies, yet the downside of exclusive capitalism is non-renewability and thus erosive to humanity.
The evidence of the downside of the wrong implementation of capitalism is that one-quarter of children in the U.S. now grow up in poverty (15.8% below the extreme poverty line), with long-term debilitating mental consequences. I believe the reason why we may need to keep an open-door policy towards immigration to skim the world’s expertise off the top for lack of regenerating and breeding highly qualified and diversified resources of our own.
Capitalism must be unleashed from artificial freedom, free from the absolutism of a totalitarian approach to freedom that disrespects the plurality of human diversity and has turned capitalism into a monism incompatible with the prospect of human capacity and ingenuity.
We can and must reinvent freedom, and establish new principles of our value systems, to reap the renewable value capitalism can produce.
