S&P just downgraded the UK

[Igel]

13. This is true.

However, the assumption when it was formulated in its canonical version is that it would be constrained. That's different from "regulated."

Where too many individuals fail in their moral and ethical conduct, government then takes over for everybody. Laws aren't written for the good, and capitalism requires social and ethical strictures to work and a lot of buy-in by individuals to make it work. The economy functions as a kind of commons. The population overall can maintain it in an open state, or everybody can line up for permission and face a lot of rules.

It's like "pure" communism in that regard. Or, for that matter, socialism, where a lot of power is invested in society's keepers, who must stay above reproach and work for the common good. Corruption in the three systems tends to look a bit different, but it's the same thing.