The problem with any economic or political system on Earth is that it relies on human behavior and assumes everyone is ethical/moral. While I agree that capitalism has historically had some real shitshows, these are are almost always the result of unethical behavior. I would argue that systems like Capitalism are not flawed, rather it's the people who operate it. The same could be said for socialism too. The issues that capitalism has won't magically disappear if we all switch to socialism and vice versa so long as we chose to have unethical/immoral people in charge. History has shown that any system can flop when they are run by corrupt people. Corruption isn't a capitalist or socialist issue, it's a human nature issue. If we want things to change for the better, then we as a society need to change our values.

That being said, I still believe that capitalism has great promise for the future despite all the issues the planet is facing. As Americans we tend to bitch about everything (like medical care, education, housing etc) being way overpriced and more and more of us are blaming this as a failure of the capitalist system and are beginning to warm up to socialism. Going forward the way for the capitalist system to succeed in the US is for us to start having what is known as a "Race-to-the-Bottom" in every possible industry until prices come way down. The rise of machines means that we can achieve this without having to crush the rights of workers. Think about it, instead of complaining about high pharmaceutical prices, an entrepreneurial capitalist should see it as an opportunity to create a startup that makes money by undercutting its competition, bringing down prices for consumers, while still building wealth for business owners.

The Nordic countries are not socialist by definition, they are a hybrid of state-capitalism and market capitalism. However, Nordic companies (think IKEA or H&M) have ethics and morals. Yes, they make a profit but that's okay because they do it in a way that tries to minimize both harm to the planet and their workers, while providing a fair price to consumers.

We don't need socialism, we need ethical/compassionate capitalism. It will take work but their is an immense business opportunity in essentially un-fucking all of the mistakes made by previous generations. It's not about the system, it's about the people behind it.