Capitalism hasn't failed. What has failed is the economic system in place today.I find this kind of thinking totally amazing. People like this blogger have a religious-like faith in this system which puts private ownership of production, free markets, wage slavery, and profits at its very core. Capitalism promotes sociopathic and predatory behaviors which no significant amount of regulation or government oversight can curtail for very long. In advanced capitalism, the owners "own" all the significant units of the economy as well as the government.
No amount of government taxes, trade barriers, or regulation caused it to fail.
No investigative reporter, or congressional oversight committee, or regulatory watchdog, exposed the massive fraud and corruption in the financial system today. All of the safeguards put in place to protect the public, and the current system from itself, failed.
However, in spite of this naiveté, the author does provide a lot of useful information regarding the devastating social and economic effects of the system.