It has been said that capitalism is the worse system in the world, except for everything else. There may be a lot of truth in that statement, but that doesn't mean that capitalism as we know it, can't be improved upon, can't become more equal in its distribution of income, and can't be fairer than it is as currently structured. When we read in the newspaper or see on CNBC that some new entrepreneur has become a billionaire, seemingly overnight, because this previously private corporation with venture capital funding has had a extremely successful public offering, our applause should be held, not so much because we are envious of another's success, but because one man's net worth should never be at the ratio of one billion dollars to less than one dollar (25% of Americans have zero or negative net worth). Not only is that wrong on the surface, it's just plain wrong, period.
There is a lot to be said, about employees or employers or people in general that they will often perform better when they have "skin in the game" but money, or the pursuit of money is not the same nor has it ever been the same as the pursuit of happiness. There are things in this world or outside of this world that are of far more significance than money, so it is inimical to a human soul, let alone humanity in general, when the few have so much more than the many. The superrich will often justify their wealth based on their perception that they have played the game fairly or perhaps through some extraordinary effort or skill or invention or innovation or inheritance or even plain luck, they have climbed the mountain of wealth that America's land of opportunity offers, but more often than not, their shouts of praise or approbation ring absolutely hollow.
American capitalism has failed, because as this nation as a whole, has become the richest nation in the world, by aggregate wealth, this wealth has not lifted all ships, in fact, you can make a very strong argument, that the great wealth of a very select few, has effectively sunk the ships of so many in America. For instance, Apple Computer, who could if it so desired, manufacture its iphones and ipads and ithis and ithat, right here in America, or close to our shores, because Apple's profitability and gross margins are stunningly high, does not. Instead, it makes sure to assembly its iphones in China, where labor and labor laws are cheap and compliant to Apple and its perceived needs. Additionally, Apple sources work out overseas to save themselves massive amounts of money from being corporately taxed by the United States. So in short, the jobs that could be created here in the United States are exported to other countries, and the fair amount of taxes that should be paid here, aren't paid at all or are paid at substantially lower rates than they should fairly be.
Consequently, American capitalism is a system that is entirely "gamed". If you are a major corporation, you have the best attorneys, the best accountants, and the best lobbyists, all of these are small expense to pay in order to save on your respective tax bill or to achieve tax avoidance. The people that end up paying the tax bill for America are the "dummies" or the powerless that can't snake away from it, essentially the middle class and the sorta-rich, and because America runs such a massive deficit, generations yet unborn get stuck with the bills produced today, while the rich truly get richer and the poor get bread and cheap entertainment.
American capitalism and free enterprise would do themselves a massive favor, which is in lieu of being forever enthralled to profits, or what is in it for me, if they considered instead that they have an obligation to be something bigger than "mine, mine, and more mine" and recognized that a honest man's labor is worth an honest wage and a fair deal to begin with.