Capitalism, Socialism or what?

I have pasted this from a comment I made on another blog.

Socialism doesn't work. But neither does the system of economic organisation which is sloppily described as "Capitalism". But to do a proper critique of Capitalism requires a deconstruction before it is possible to see the various elements of which it is composed.

Capitalism appears to lead to widening divisions between rich and poor, paradoxically going with material progress and technical devlopment. There is no trickle-down effect and there are resource and environmental limitations which are now setting a limit to growth.

On the other hand, free markets appear to, literally, deliver the right goods where and when they are wanted. So it is necessary to establish which of the components of "Capitalism" give rise to wage slavery and social injustice and which are beneficial.

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