an economic system based on private ownership of capital
I think where I disagree is that capitalism is an untamable beast or that private ownership is bad. Private ownership at the small scale breeds competition and interoperability. At the large scale it becomes a monoculture just like a truly socialist government would be (in both cases the average person’s individual buying power and individual vote aren’t going to move the needle much).
Putting limits on capitalism so that small and medium businesses dominate and the middle class has enough money to reasonably take chances on creating new businesses without gambling their life savings is what I want to see.