Speaking to gathered experts and journalists at the Valdai Discussion Club in Sochi, the Russian president said that many people around the world are suffering from disappointed expectations and a lack of prospects, which leads to "uncontrolled migration" as some seek better life opportunities elsewhere.
"Everyone says that the existing model of capitalism, which is now the basis of the social order in the vast majority of countries, has run out of steam. There is no longer any way out of the tangle of more and more confusing contradictions.Putin went on to explain that many around the world still suffer from a lack of food, water, and electricity, while others reap the rewards of the system. He called the lack of opportunities for much of the world a great problem.
"In the richest countries and regions, we see growing inequality of material benefits and of opportunities within society, and at the international level too."
Capitalism is a good system and aligns with human nature. People like meritocracy. But corrupt Capitalism is destructive to all social systems. People do not like system that are rigged. The world we live in is populated by corrupt governments, corrupt banking and financial systems, and massive corruption by multi-national corporations.
With all those headwinds, the common man hardly stands a chance. The massive concentrations of wealth are leaving 99% behind, all across the world - even in Russia.
But the answer is not to throw out Capitalism, rather its to jail all the corrupt people across the world.