The current form of capitalism, in my opinion, is lacking. It generates an immense wealth inequality, which leads to tensions among the poor (mainly in comparison with the richer class), and between the poor and the rich. It's true that some social policies would fix a lot of problems, but by applying them it can increase the cost of labor (since that's what will be taxed before capital, since people will move their capital to countries where those don't get taxed, or as much), which makes a country less competitive in terms of economy. They should happen, though, but wisely.
The only way to successfully apply big social changes is by international collective effort, but (pretty much) no country wants to give in that much of their autonomy, nor can you get such a consensus on governing between a large amount of (economically powerful) countries, especially with money having such an (sometimes corrupting) impact on democracies (for example America's role in the Palestinian/Israelian conflict. But that's a huge can of worms that is probably not that easy to open without too much of a fuzz...). And then you have to go into the problems with mass consumption, which is more relevant than money itself in the video Jericho posted 3 posts ago... It's a complex mess all over the place, and solving it will probably the biggest challenge of this century, since it affects so much other issues (like global warming) that are relevant to us in the not-so long run.