just watched the michael moore movie.  in short, he blames capitalism for our economic problems.  i agree we have (big) problems, but i disagree it is capitalism.  we must first define terms.

capital: accumulated goods devoted to the production of other goods.

all economic systems use capital, therefore, they are all capitalist.  the difference between the systems is who owns, controls, uses and disposes of the capital: is it the State or is it Private.

communism:  capital is owned and controlled by the state (central government).  no private property rights.

socialism: the state owns and controls the big industries, some private property rights.

free market entrpreneurism: private ownership and control of all property.

facism:  capital is owned privately, but controlled by the state.

corporatism:  capital is owned and controlled privately by big companies, AND the state is owned and controlled privately by big companies.

to blame our economic problems on capitalism is wrong because all systems are capitalist.  to blame them on free market entreprenuerism is wrong because that is slowly and increasingly not our system.  our system is closer to corporatism, where the institutions (central government, central banking, central media, central education, central health care, etc) are privately owned and controlled by big corporations, and is becoming more so.

to summarize:  our system is not 'free market capitalism', but can be more acurately called 'centrally planned corporatism'.  and more of this is only going to make our situation worse.  not good.