I think the coop model looks as though it has potential. I don’t think capitalism as we usually think of it is the problem. Capitalism would normally just be you and I agreeing to a price and making a sale without outside intervention. Making deals under duress, coercion, force, or market manipulation is another story.
It’s, as you mentioned, the gambling and games that are played at levels high above us. When it all goes wrong, they convince the government to bail them out with our money because the economy will fail without them and then they just start over again.
They can even steal from us if we keep money in a vault. They consistently print more, and so if I put a $100 bill in a safe, in 100 years, they’ll laugh at it when I try to buy a beer.
I get a mortgage and find out the bank made deals to split it up into 1,000 pieces and bundle the pieces up as other securities and take out insurance policies based on my possible failure to pay and on and on and on. My question is what purpose do these games serve other than gambling?
Hedge fund managers make more money than pretty much anyone, but what, exactly, do they produce? There are losers on the other end of every one of their transactions.
I like the idea of free markets, but someone will find a way to abuse anything. This is why we can’t have nice things.