Yes it most certainly does. Defend your position that it does not. Capitalism is self-regulation.
On paper yes, in reality no. We have seen it time and time again, where capitalism has failed to regulate it self. Take a look at the crisis we are in now, it is a failure of self regulation in the private sub-prime mortgage market that is the root cause of the crisis. Does government regulation "screw things up"? Sure, but in an imperfect world it is our only way to quickly fix the failures of capitalism.
The only place capitalism probably fails to self-regulate is environmentally. It is possible for capitalism to lead to tragedies of the commons that don't self-correct very quickly or peacefully. But then again I'm not sure any other economic model is terribly concerned with the environmental impacts of our pro-growth policies.
Capitalism does nothing for the environment or workers. That is its primary problem which has lead to new forms of ideology.. socialism, communism, enviormentalism and so on. Capitalism has one goal.. profit at any cost and with that power and this is what leads it to its own downfall if not regulated (self or government). And since self regulation goes out the window as one of the first in a lazzie-faire regulatory system, then well...
Not really. You end up with an quasi-socialist oligarchy that learns how to disguise itself as a capitalist republic. Capitalism may bring about ****ty scenarios now and then, but that is a very necessary aspect of the self-regulatory nature of capitalism. When government step in and interfere, they're destroying that self-regulatory mechanism and turning the system into something other than a free market.
More horse**** based on a text book. In the real world, no amount of self regulation would have stopped using children in mines or factories. The capitalists were earning millions doing it, so why change it? Just because a few children died, so what.. they are replaceable. It was only when government came in and said on behalf of all people... no using children is wrong, that the capitalists changed their tunes. And that was not because they wanted too, but they were forced to do so because of changing political ideologies that threatened their whole business.. aka communism and socialism. There is nothing like a revolution and riots that can "regulate" a capitalist society... but do we really have to go that far to change things for the better?
Listen, capitalism is by far the superior method of doing things. However like everything in life it is far from perfect, and having a lazzie-fair attitude when it comes to regulating it, only spells doom. Time and time again we have seen this, because there is two major flaws in most human beings... power and greed. And if a person can via the lazzie-fair capitalism gain more money and power by doing bad things, then that person will do so. Now you can say that the opposition in capitalism will prevent that (self-regulation), but often the opposition is out of business or/and dead and the power of the one left behind is so huge that people are afraid of him/her. Standard Oil comes to mind. Walmart comes to mind now days in certain geographic areas. Microsoft comes to mind back in the day. Apple comes to mind today.
Lets put this in perspective. Capitalism is like a teenager. Now we can have a lazzie-fair attitude to raising said teenager, and let "society" and "experience" form the teenager over time. Or we can go by the control aspect and ban a teenager for doing things, keep watch and so on. Which one is the best method or is it a mix of the two? But ultimately the parent can and does step in an take control if the teenager gets out of line... those families where parents dont act like parents, we get what... criminals and problem teenagers in larger numbers than families where parents act like parents.
It is no different in the overall economy... let the business run amok in a self regulating environment with no boundaries... and watch that eventually implode. Go the totally opposite way and regulate everything, and you are asking for hurt as well as no one likes to be told what to do all the time. Hence a mix of the two, and often the regulation is brought out of need to fix a problem rather than a preventive measure. So basically.. if it had not been for the abuses and flaws of capitalism, then there was no need for government regulation.
Problem of course comes when corporations own the regulatory arm of government and the regulation is made to prevent competition... it is still capitalism,.. you cant deny that.. but it is a flawed version.