In his Jefferson lecture, Wendell Berry has this to say about capitalism:
But now, three-quarters of a century later, we are no longer talking about theoretical alternatives to corporate rule. We are talking with practical urgency about an obvious need. Now the two great aims of industrialism—replacement of people by technology and concentration of wealth into the hands of a small plutocracy—seem close to fulfillment. At the same time the failures of industrialism have become too great and too dangerous to deny. Corporate industrialism itself has exposed the falsehood that it ever was inevitable or that it ever has given precedence to the common good. It has failed to sustain the health and stability of human society. Among its characteristic signs are destroyed communities, neighborhoods, families, small businesses, and small farms. It has failed just as conspicuously and more dangerously to conserve the wealth and health of nature. No amount of fiddling with capitalism to regulate and humanize it, no pointless rhetoric on the virtues of capitalism or socialism, no billions or trillions spent on “defense” of the “American dream,” can for long disguise this failure. The evidences of it are everywhere: eroded, wasted, or degraded soils; damaged or destroyed ecosystems; extinction of species; whole landscapes defaced, gouged, flooded, or blown up; pollution of the whole atmosphere and of the water cycle; “dead zones” in the coastal waters; thoughtless squandering of fossil fuels and fossil waters, of mineable minerals and ores; natural health and beauty replaced by a heartless and sickening ugliness. Perhaps its greatest success is an astounding increase in the destructiveness, and therefore the profitability, of war.