I hear a lot of “capitalism can work if it is regulated.” This misunderstands what capitalism -IS-.
Govt everywhere makes society’s decisions. In OUR system govt decided to “contract out” to the “private sector” to do lots of things. THAT is what “capitalism” is. We HIRED the private sector. We LET private capital invest, and pay them a bit of the profits as a management fee. We are the boss of them.
We are the boss of them.
We all have a misunderstanding of the relationship between government and “private” capital. We (government) ALLOW private capital to exist at all. “Regulation” is too mild a term for the relationship between government and the “private sector.” The “private sector” -IS- govt, just contracted out. The RULEs for that contract aren’t strong enough. We are the boss of them. Period.
This is about our OWN understanding of the relationship between government (us) and “private” businesses. We have lost sight of this.