The disruption of the labour supply/demand curve by machine labour under capitalism is the reason why things are so out of balance these days.

"Fairness" of outcome has never been a direct goal of capitalism. It assumes that free market competition results in an optimum distribution of scarce goods and services.

But, when human labour increasingly gets displaced by machines, AI, IOT, etc. the income that used to go to humans increasingly flows to the owners of technology.

It matters not whether capitalism used to be the best economic system. It no longer works as intended. Conventional socialism has its problems too as an approach to help with our current evolution to a post-industrial society. 20th Century solutions to 21st Century problems are a waste of time.

Tim for a new paradigm.