Social Capitalism

An unfettered free market can easily go out of control and crash the economy. Check that; a laissez-faire economy (no government involvement) cannot go out of control, because there are no controls. Result: A wide range of abuses by participants.
   Let's be blunt. "Exploitation" is what capitalists and entrepreneurs do -- they make use of resources (land, labor and capital) to provide products and services to consumers in the marketplace. But because of abusive behavior in the past, the term "exploitation" has acquired negative connotations -- a "dirty word," if you will.
   At the other extreme of the spectrum is the concept of a fully controlled economy, subject to the whims and questionable competence of a government bureaucracy. Result: Inefficiency, and a failure to provide enough goods and services at decent quality for consumers.
   In practice, both systems have been tried, and neither has worked. It's time, then, to focus more closely on something in the middle. Economics 101 teaches that we have what is called a "mixed system," somewhere between the full control by a socialist system and total lack of control in a laissez-faire system.
   But our "mixed system" doesn't seem to be working, either. Maybe it's time to admit that and modify what we already have, calling it what it is -- Social Capitalism -- and make it work to benefit all members of society.
   Two suggestions: Tax  some profits to help care for the general welfare, including and expanding on what is already in place, which is a tax-based system to gather revenue for infrastructure projects such as roads and bridges, as well as provide services such as police and fire protection, and education. And rather than rely on altruism in the private sector to do this, the programs would be administered by government.
   Oh, wait. That's what we have now.