Capitalism has emerged as the most dominant economic system in the early 21st century.
Capitalism has uplifted hundreds of millions out of poverty in China and promises to do so in India and other developing countries.
But it does have it's faults like the widening gap between the rich and poor and crony capitalism that is affecting the developed countries economy right now.
For example the company i work for has come under hedge fund control in recent years and hence we have declining benefits and lower bonuses despite higher net profit in recent years. The hedge fund funnels the additional profits back to the investors of the hedge fund resulting in less bonuses for the employees of the company. This is one of the ways of how the rich get richer and the rest of us get less money.
Without doubt, Capitalism does work but there is weakness within this economic system.
Could there be a economic system in the future that could replace Capitalism?
Could advances in technology result in a new techno-economic system?
Could a nature based based green economic system replaced capitalism?
Could a new and dynamic form of socialism replace capitalism?
Is there anything in the future that could replace Capitalism?