I agree with you and with Friedman that planned economies don't (can't) work, in principle. I think the main reason for this is that even a small economy is very complex and dynamic, and attempt to control it will fail because the controls cannot possibly anticipate every possible contingency that may arise in the future. That said, I am whole-heartedly behind a strongly progressive income tax, which I think is the real problem right now, not capitalism. The nominal tax rates have fallen so precipitously in the decades since this was filmed that its hard to imagine them where they used to be (at the time the top rate was >70%, and that was down from ~90% immediately after WWII). IMHO, we should allow ALL of the bush cuts to expire (not just for the top bracket) as a start, and see what that does to the economy. Entrepreneurship is one of the great things about living in a free society, and I hope that we never move to a Euro style economy, if for no other reason than this, but we simply cannot let the wealth distribution skew any more in the wrong direction, if we are to have a healthy society moving forward. Taxes, not a planned economy are the best way to achieve this goal.