O'Tink, your Q, how to replace our present system? Well I have already started DOING that, and still putting more of the pieces together...one such piece, a clue comes from Marianne's link on mercantilism. I read that discussion went on for a whole century, with John Locke and Adam Smith pointing out the flaws of mercantilism. And weren't those two instrumental in the principles of capitalism, a natural successor to mercantilism?
I doubt that Locke and Smith had the capitalism principles down pat all-worked-out, rather it evolved; and capitalism taught humankind many good things.
Well, likewise there are excellent voices today pointing out the flaws of the present system, and suggesting directions to proceed. One person says that even community gardens can be a political act now, as it reduces our dependence on agribusiness and fossil fuel transport.
Also, I am talking to all my oldster friends, 'splain about commodification and how people only have worth if they contribute MONEY into the elite coffers. That is why they are getting kicked to the curb, and I tell 'em to hang on, don't die, we lived the first thirty years of our lives in the wake of the New Deal and we KNOW how to value people intrinsic worth; and we need to model that for our grandchildren and for the whole society.
I am concerned we could descend into violence before all is said and done, and I do all I can to help avoid THAT bad detour.
I think the worker-directed enterprises could have a role to play, also the mom-and-pop family businesses (known as 'penny capitalism')...but we need to move away from the large totalitarian corporations that take over government and politics too, and control everybody's life even to killing people legally.
But I think we can do it, and we will find out what it looks like when we get there.