This is a profoundly mistaken argument. Capitalism certainly has many flaws, but time has proven beyond dispute that it is the economic model that delivers the greatest security and prosperity for the greatest number of people. If you doubt this, look at the numbers for how many people worldwide have risen out of poverty in the last 20 years.
Capitalism works, but it requires good government to ensure the benefits are distributed in a more equitable way than they are today in much of the world. Ms. Wood mistakenly blames capitalism for problems that are caused by governmental problems such as regressive tax codes, lax anti-trust regulation, poor consumer and environmental protection, and our general failure to govern our markets and ourselves effectively. To tip my hand here, I’m advocating a much more progressive/liberal approach than the path we are currently on.
It’s easy to point out that capitalism is far from perfect, but what is? What is the better alternative? Communism failed utterly. Large scale, industrial socialism, such as public ownership of industries, also usually fails in practice. Small tribes can function effectively with a communal economic model, but that isn’t an option for us today, so the fact that it is “better” is irrelevant.
Government capture by the wealthy is the problem, not capitalism.