I think the entire system needs demolishing,
I agree. It is fundamentally flawed and so far out of sync, there is little that can be done.
He advocated free enterprise within a country, not internationally.
This is part of it - but Keynesian economics has the same flaw - at the time, they didn't predict the likes of google or Amazon - these systems just didn't exist. Plus, "production" was required, whereas now there is so much service.
I agree, if you read some of the leading thoughts of the turn of the last century (1900s), the perplexing problem was with what and how to keep the working classes "busy".
This is why the entertainment industry (sport, gaming, shows etc) has boomed - it replaces the "gladiator contests" of Rome.
That's so true. Most people can't fathom it though. oh well!