"Capitalism is an effective means to create a robust economy"
Yes, making bombs, devastaing cities, then rebuilding them, making land mines and then the prosthesis for the limbs blown off, gas guzzling engines that requires oil from the other side of the planet eventually carried in gaz guzzling trucks that use oil to carry oil and requires oil changes and oil filters, making razors that you throw in the garbage, prison industrial complex, its all good for the economy in a monetary system.
(one of my favorite speech by a US official)
"it needs controls and limits placed on it"
Yes the elite decide since they have the money and the power. So thats like saying The fox being in charge of the henhouse is a great system, as long as the foxes place controls and limits on themselves, and dont cheat, and dont decide to change back the rules when the dust settles. It took both a Great Depression and for part of the Elite to be scared that the American people would revolt in a for/by/of the people revolution for the elites to enact the banking act of 1933(or thereabout) and eventually arrive at a socialist-ish capitalism (with very high taxes on the rich and laws against child labor, limits on banking conflicts of interests, etc) which apparently worked in the 50-60, but being the Elite they removed the threat of a people's revolution completely brainwashed the population senseless, and then gradually dismantled the controls that had been enacted in 1933 when their predecessors were scared and placed "controls and limits".
(sure its an oversimplified view, but its to get a point across as usual)
In a monetary system (in addition to the various other flaws and aberrations) people with the most money have more power to change the rules and brainwash(foundation, media, spin, etc) the masses (that usually believe anything the government and media says). You can only push it off for a time before the corruption, collusion, conflicts of interests and propaganda returns. The regulations are needed, like you need to throw water by the buckets out of the boat when theres a gaping hole in the hull beneath the water in the lower decks, but the "controls" fail to address the core flaws of the system, hence the return to a hey lets put control (hey, jee-wiz, we removed buckets o water last time, but look, theres still water? the solution is to throw buckets of water out like we did last time).
Monetary system is great from an antiquity/feudal age perspective, like stone tools were great for stone age cave men, but stone tools as great as they are are not the best tools ever for the rest of time and eternity, its the same with the Bombs-r-GDP monetary system, its time to move on upgrade to a new system, and throw hierarchy and secrecy out the window too while were at it.