"... global competition has become ever-more brutal, while self-perpetuating cartels of privilege have seized control of the economy"
... an annual number crunching exercise now ... !
... economic woes are often attributed to capitalism - self declared capitalists and advocates for 'free markets' typically focus on describing the genuine free market as Capitalism.
Actually most of those who call themselves capitalists are anything but free marketeers!
They will make use of any strategy within (and often outside) the law to advantage themselves regardless of whether it is consistent with the free market or not; bribery, corruption, even warfare ...
Free marketeers should drop the term 'capitalism' to describe what the free market and its true champions are.
No matter how much Ayn Rand insisted on what 'capitalism' is.
Ayn Rand, the majority of her followers (Objectivists), libertarians at large like the untiring and superbly committed Leon Louw who wrote the article being referenced, are describing a morality and ethics that is not shared by most so called capitalists, self declared or not.
By insisting on the term capitalism all it does is empowers those who seek totalitarian solutions for upliftment and freedom. As a result of that billions of people worldwide continue to be suppressed and oppressed, modern day slaves of the global 1% that reside not only in the West but everywhere else too where some Alpha (male or female) is ruling the roost with their cronies and family dynasties.
Capitalism is now a word more vulgar than those terms used to put down sex-workers - excepting that sex-workers are truly living day saints and martyrs deserving of our respect... and most so called 'capitalists' are not.