I actually think parts of capitalism is fantastic, but here me out. People often think of wanting to remove a lot of the toxic elements of capitalism and immediately think of communism, The opposite extreme. I don't think this is fair, nor do I think capitalism is evil or bad in it's entirety.
The better product sells more. Supply and demand determines price. Healthy and true competition exists. The more skilled a worker the more money they make. Like a doctor making more than nurse, or an engineer making more than a cashier.
I think this is fantastic. The problem I see, personally with capitalism is when we get into equity, stocks and entrepreneurship.
A surgeon requires a tremendous of skill effort and study. They produce an incredible value that helps society and the individuals. A CEO, stockholders, the board of directors or the owner of a company, receives as much money as possible from taking as much value as possible from the workers and the citizens.
Paying their workers as least as possible, layoffs and squeezing the absolute most amount of consumer surplus out of the customers is how they maximize their profits. They themselves don't produce anything.
They're parasitic.
I would like to see a mixed socialist approach on ownership of these companies. The workers are the ones that own the stock and make the decisions. They're the ones that produce the value of their products and contribute to society without having some parasitic owner take billions from their paychecks or fire their workers to make 50 million a year.
I believe in a much more democratic process as well. Rather than having a board of directors that completely controls and dictates the working conditions. You could have the workers vote on working conditions, hours, wages and sick leave in tandem with unions for their fields.
Whether or not certain positions could be remote, hybrid, whether or not they want to fire their unproductive and they get to decide what metric to measure productivity by.
It's absolutely ridiculous that the most profit industry in america, railroads is able to deny the workers basic human rights and sick leaves because the CEO and board of directors wants them too. The workers need to be the ones in charge of what they produce.
Finally we need true competition. Huge companies that are too big to fail, are too big to exist and need to be broken up. Any company that owns absolute market share and has the ability to form oligopolies or monopolies are frankly far to big.
These companies don't compete with each other. They shake hands behind closed doors and agree to set a price that benefits both of them being entirely cooperative with one another.
I also think there needs to be very specific socialized systems in place and industries need to be regulated education, healthcare and insurances.
It's absolutely ridiculous what happens and the extreme premiums that citizens have to pay compared to many other well off or wealthy countries. These are vital institutions that are incredibly worth every penny of investment. A much more educated, healthier well off population will be far more productive and benefit the economy, and more importantly the community as well.