It has happened, sure. As I noted, a certain amount of regulation is necessary and I'm not against that. There are also countervailing forces like unions, and consumer opinion or boycotts.
Consumer opinion and boycotts mean jack to a company that makes billions, forces that can be easily crushed by a multi-million dollar ad campaign such as the recent blitz for HFC. Unions are losing ground in the US because people are forgetting what unions fought and bled for when it came to the workers. That's on top of unions that have lost their way and are now more interested in self-preservation than protecting workers.
The fact that some companies have done some stupid or bad things at times isn't a wholesale indictment against capitalism in general.
It is when there is no effective means of policing companies or punishing wrongdoing.
GDP alone isn't a certain measure of quality of life, but it does tell us how much wealth is available per person in the nation, for those who will go out and work to obtain it.
Then why is so much of our wealth concentrated at the top of our society?
Look at it... our middle-class have more money than almost anyone else's middle class. Our blue-collar working class make more money than many nation's "middle class". Our poor live better than most nation's average workers. That counts for nothing?
You can bet your sweet ass that it doesn't.
Our middle class is quickly eroding under a mountain of debt and shrinking job opportunities. Our blue collar workforce is being paid next to nothing and what's left is being outsourced to countries with no labor protection. Our poor may live better than the poor in other countries, but that doesnt change the fact that they still cant get what they need. Having a dollar while everyone else has a penny is meaningless if bread costs two dollars.
How about opportunity? If you're smart enough or good at something, there are tons of scholarships floating around... lots of financial aid and student loans... any American who has some brains on the ball and is willing to work hard at it can manage to get a college education and improve their lifetime earnings dramatically.
What a load of high school bull****. Scholarships are shrinking and more and more people are applying for less and less money. Student aid and loans are also increasing in costs whereas the jobs to pay off those loans are shrinking. College education does not promise the life it once did. Many college degrees are now almost completely worthless due to there being so many other people with the same degree floating around.
How many other nations in the world have this opportunity made so readily available to so many? If your father is a fisherman in North Korea, what are your chances of getting into college? Probably near zero. Potential upward mobility is a factor.
Potentiality is not reality.
I've seen those ratings that claim the US isn't such a good place to live, and frankly I question them. Yes we don't rate so well in health-care related issues... but if you look at the actual stats, let's say on infant mortality, we're actually not that far from the top and WAY ahead of the bottom. That's why simple "rankings" can be deceptive. Also you have to look at the poll's biases. So we don't get free (poor quality long waiting lists) National Healthcare, and six weeks vacation time mandated by Government. A lot of nations that ARE giving away those freebies are starting to find that they can't afford to continue doing so long term... look at Greece for one example. Many other European "social-welfare paradise" nations are starting to feel the bite also.
Many of the Nordic countries are engaged in every program you decry and more. Their standard and quality of living is far higher than our own and their economic position is better than ours. What does that say?
Capitalism isn't perfect; nothing is perfect or ever will be. Yes, some degree of regulation is necessary, and yes sometimes businesses have to be pressured to do the right thing. So?
So? Read The Jungle by Upton Sinclair, that will paint you a picture a landscape where business gets to make the rules.
China has a command economy, communist-in-name, and look at how their workers get treated and paid, and the quality of their products. It's not like there is a viable alternative to capitalism, or at least none with real-world-proven quality and success that would be somehow "better".
China is a Fascist state with an entirely profit driven motive.
There are indeed viable alternatives to Capitalism. Solutions must be tailored to their country, but to simply throw up one's hands and take the TINA way out is intellectually lazy to the nth degree.
If you have an alternative to capitalism, that is proveably sustainable long-term and would provaeably be better for everyone, then by all means let's hear it.
First, we give the federal government the authority and charge of policing the private sector. We break the grip of the lobbyists and get private enterprise out of government. Political figures are restricted from spending more than a set amount on a campaign and are not allowed to receive more than a set amount from ANY source. Any income must be documented and is under the review of the IRS to ensure nothing is being sneaked under the door.
We also lay down a set of ironclad boundaries that private enterprise cannot cross without very serious repercussions that include seizure and disillusion of the company to pay back wronged public interests and we institute rules that make any managerial staff accountable for any and all wrong actions taken by employees. We also institute a "full disclosure" policy that requires any private enterprise to share any and all technological developments with the federal government for review, the information is to be kept proprietary except in extraordinary circumstances.
Next, we nationalize key industries; utilities, pharmaceuticals, production of basic foodstuffs, basic agriculture, healthcare, and extraction and processing of oil and fuels. These are to be run with the target of being self-sustaining at bare minimum with the end goal being putting profit into improving the services or paying off national debt.
We also institute a total overhaul of our tax and system of redress for the federal government. We make the federal government more subject to review by interested citizens being careful that someone cant curmudgeon the government into stopping totally.
Creation of a national database of DNA, fingerprint, and retinal images usable by and available only to law enforcement. We also explore the possibility of using a national ID card system whereby different methods of identification can be "stacked" in one card linked to your particular genetic profile to prevent theft or misuse.
Social safety net programs are to be overhauled and reworked to run at less cost and to cover as many people as need the program with severe punishments for any fraud or abuse of the system. This will be coupled with larger endowments for education, the arts, sciences, and improvement of public services.
Sound like a start?