free market capitalism

Sorry for the delay but work was holding me up. I thought I had forfeitted already, but lets see what I can do here!First, I shall state why I believe unregulated capitalism is bad, then I will move on to why I think a socialist mentality is required to make it work.1. Free-market only works in the best interest of society (a.k.a. "fair market") on paper. Once the human factor if greed comes into play, what we see is the capitalists accumulate more wealth and power at the expense of others who do not have the same resources.2. Free-market is not actually free, because the bigger companies buy, sue, or out-price the smaller ones, and competition is eliminated in many industries. Multi-industry conglomorates further detract from the idea of a truly free market. Lobbying is also a clear sign of collusion between capitalists and politicians, which is an attack on both free market and democracy.3. Capitalists can't be successful without capital (which includes labor) and customers (working consumers). Free-market allows capitalists to shape their own rules by taking advantage of their success to deny others the same standards of living. Without regulations, capitalism becomes one big pyramid scheme, which is reflected in the differences of income growth between the lower classes and the top 21% over past decades.Sources to come in round 2, once I see which points you accept and which ones you challenge on a factual basis.Why I think socialism is required to make capitalism work:First, let us acknowledge that socialism can mean a lot of things. Notice that I said "a socialist mentality", however. What I am referring to is the basis of socialist theory (regardless of implementation), which is "advocating collective or governmental ownership and administration of the means of production and distribution of goods". -- http://www.merriam-webster.com...What I am advocating has been recently called "democratic socialism":"[the belief] that both the economy and society should be run democratically to meet human needs, not to make profits for a few. We are a political and activist organization, not a party; through campus and community-based chapters DSA members use a variety of tactics, from legislative to direct action, to fight for reforms that empower working people.In other words, capitalism should be regulated by the idea that capitalists are not the only members of society, and should not own it via vast amounts of wealt --nor should they horde money while many citizens are struggling to provide food or healthcare for their families, or homeless even. We used to have what were called "fair profit margins". If the government doesn't set these for industries like healthcare, gas, food, and financial services, the result is that the companies will decide their own fair profit margins, and they wont be consulting you about it. We also regulated industries for a long time to prevent mass media and banking conglomeration, both of which have happened since those regulations fell --resulting in a financial crisis and noticeable decline in the quality of televised reporting (and layoffs due to consolidation, furthering unemployment). Democratic socialism compliments capitalism by setting a standard of operation for capitalists which centers on the best interests of society, and not their own bank accounts. The point of government is to offer us basic services, including protection and security --this includes from our own corporations.