As you can tell I’m not a trained economist, I’m a generalist. I, however, am extensively read from all points of view on the matter as I am with much else. Let me put in a plug here for my latest book, A Quick look at the Essence of Man and His Universe, available in E format or hard copy.
In any event, neither pure capitalism nor pure socialism are good methods of economics. Pure capitalism is like a train on a curvy track with no breaks and pure socialism is like a train with locked brakes. Both stifle innovation for opposite reasons.
The ideal situation is a country wth a moderate government in which there is some magical way that wealth and power cannot buy up the government. IF that were ever possible then a reasonable government would be in a position to set and keep rules in place that would prevent capitalism from periodically running itself over a cliff and taking the rest of the country with it. But of course with the excesses of human nature, holding to such an ideal balance will never be in the cards.
And so humanity and its institutions will continued to stumble along until the ultimate offset of human creativity (in this case thousands of waiting nukes) takes us permanently out of the universal picture. Sorry for the downer ending.