Capitalism is not necessarily synonymous with markets. We are goal oriented creatures, in a cyclical, reciprocal reality, so while markets need money to circulate, people see it as the signal to extract from the noise of society and the economy.

Since it functions as a contract, with the asset backed by a debt, capitalism requires the manufacturing of debt equal to the assets. Consequently austerity and public debt are necessary features.

Given this dynamic goes much deeper into our collective psyche, than the economic modeling, fixing it will require a much deeper cultural assessment.

Some thoughts on the bigger picture;

Peeling the Paradigm