@Jer If I had such a proposal I wouldn't be posting here.
Well, when people beat up on capitalism I'm always curious what they think would work better. As far as I'm aware, real-world evidence seems to suggest that capitalism with social programs and a certain amount of regulation tends to provide the highest overall standard of living.
Anyway, I liked something you mentioned "heavily regulated capitalism". Do you think there is such thing today and if yes where?
The state of California in the U.S. is probably a good example of somewhat
overly regulated capitalism. You need permits for everything, restaurants have health code scores posted out front, taxes are high, and they're usually on the spear tip for environmental and privacy laws within the U.S. Some of this stuff is good, but some of it is stifling and expensive. Other states have been laboratories for other approaches, which yield good information about the pros and cons of each.
To my mind, any situation where a company's profit or revenue motive would cause them to make a choice that would be dangerous or directly damaging to the population is one that requires governmental regulation. The problem is where you draw that line. Health impact is an obvious one. Economic impact is squishier, but this is where things like anti-trust, anti-collusion, and minimum wage and benefit regulations come in. Social impact is one of the stickiest, as there are competing interests with freedom of speech, etc., and we're only just now dipping our toes into this with potential social media regulation.
The real issue is, without harnessing greed to drive economic growth and increase standard of living, how else are you going to effectively do it? Communism falls apart once a collective gets over about 2 dozen people, because corruption eventually finds its way in, and greedy individuals start doing bad things. Over-the-top socialism strangles the local businesses to the point where they can't compete effectively with foreign ones, and that stunts growth, which limits increases to standard of living. And obviously if you go in the other direction and go "full libertarian" with completely unregulated capitalism, then the rich get richer, the poor get poorer, and standard of living will vary wildly based on economic class.
Understanding that most people's default is to act in their own self-interest, it makes sense to tap that motivation while keeping it under careful control.