NOT disagreeing with you!!....However, you posted, "So some form of socially democratic system incorporating capitalism would make sense; keep the ability to innovate and develop but encourage long-term thinking."

We had that, but through corruption and side-stepping anti monopoly laws, that have been weakened, to the point of non compliance...EXCEPT for those companies, and 'special interests'(?) to whom either will not merge, or who are in competition, with the larger corporations, who can also 'afford' to corrupt the laws that were already in place!

And: (Still NOT disagreeing with you).."Well history disagrees with you there. Modern capitalism didn't even exist before the 1700s. Although trade was widespread before then economies were not based on capitalism, but often on the labours of a large underclass that supplied the goods. Governments taxed individuals or areas in order to generate wealth."

"Governments taxed individuals or areas in order to generate wealth."
AND to pay for socialized services.....but that, too, has been corrupted!

By 'Modern capitalism' are you referring to the stock and commodity exchanges?

"What are the alternatives? Communism has never been tried properly.."

China did try it...but until they incorporated a form of 'capitalism', did they flourish economically....BTW, that being said, the U.S. based multinational corporations, have exploited them, and have hurt our economy, by doing trade with them..even with incorporation of slave labor conditions producing the products.

"In the end capitalist excesses must be regulated, or the system will fail."

..and the laws ENFORCED. We had them at one time, but through corrupt practices, 'lawmakers' have been 'persuaded' (read: Bribed) to make loopholes in the laws, that once enacted, get the loopholes closed again, as a masquerade of 'reform'..but long enough to get THEM through the loophole....so it appears to be 'legal', though not right.

As of note, socialism, to some degree NEEDS a form of capitalism to function and fund it...the two can be compatible...but once the balance has been tipped, favoring one side or the other, is when the corrupt opportunists make their move...and at that, fall back on ideologies to gain support!!!

Good post, Stu!

GfS