By an amateur economist and even more amateur philosopher.
To paraphrase the Winston Churchill quote*
It has been said that capitalism is the worst form of an economic system except all the other that have been tried.
Over 100 years ago the idealist, Louis Blanc wrote these words. “From each according to his ability, to each according to his need.”
I take from that proposal that all persons would work as hard as their talents would allow and all would share equally in the results of the resultant productivity. Alas, mankind as a whole may never reach that utopian goal in spite of centuries of theological and social urgings.
It would appear that, lodged deep in the human brain stem, is the urge to have more material goods than others.
This urge, when subjected to public oversight and regulation can be turned into a beneficial prioritized distribution system of both scarce and plentiful assets. Obversely the urge to greed when left unchecked will eventually lead to social unrest and revolution. Bread and circus has a limited life span as a preventative. Just ask Rome.
*“It has been said that democracy is the worst form of government except all the others that have been tried.”
Paul Hunter firstname.lastname@example.org