The "real problem with capitalism" always boils down to: 1. Lack of competition. 2. Lack of information to reliably choose between competitors. Which are at

The "real problem with capitalism" always boils down to: 1. Lack of competition. 2. Lack of information to reliably choose between competitors. Which are at odds with each other. In order to ensure sufficient information, you need some kind of framework that keeps out any competitors that cannot satisfy the expected information disclosure, which generally ends up narrowing the field to the small few able to tick the right boxes. Thus, you get the tug-o-war between wanting information and wanting competition. At the political extremes, some believe that competition is most important above all else, at the other it is believed that information is most important above all else. Interestingly, both extremes tend to lead to socialism. "Competition above all else" means that there are no encumberments in seeing co-operatives form. "Information above all else" means that government becomes so intertwined that the public ends up owning the capital. It's the middle ground where we find the "moats" that keep capitalism alive. Socialism doesn't really change anything, though. At best you are just moving the problem around as the problem isn't actually capitalism at all. You can see the same dynamic play out even when capital isn't involved. It is much more fundamental.