I believe that there is a meaningful intuition that competition provides a strong incentive structure to achieve some goal: the problem is that the goal capitalism attempts to achieve is profit and profit is only weakly correlated (at BEST) with actual wellbeing of the average person, material or otherwise.

I believe that building a system that facilitates both collaboration and competition all in pursuit of fulfilling the needs of the people as opposed to the desires of those with the greatest wealth to begin with is the best system we can build.

“Deconstructing (and Reconstructing) the Concept of the ‘Market’” https://link.medium.com/pL4HIS0hc8