Has Capitalism had a monopoly on the economy for too long?

Capitalism has proven very good at providing humanity with commodities. It’s constantly increasing the efficiency with which it consumes and processes raw materials and turns them into things that will make a profit. Along the way it’s undoubtedly improved living conditions for the vast majority of humanity.

But capitalism has had a monopoly on the economy for a very long time now. Without any competition ist has grown responsive to the needs of its customers, namely humanity. Where else is humanity going to turn for commodities? Capitalism knows it can make whatever is most profitable and humanity will have no choice but to turn to it for commodities. It also knows it doesn’t have to be responsive to the needs of the natural world or of the earth itself. There’s nowhere else humanity can turn to.

So would humanity be better off if capitalism had some competition? Another form of economy running along parallel to it? Something that people could turn to if they weren’t satisfied with capitalism. Something that would force capitalism to consider being more responsive to the needs of its consumers.

Capitalism is especially lacking in the provision of meaning and personal growth humanity. In fact in its desire to increase efficiency and profits it’s constantly breaking workup into simpler and simpler tasks and thus making humans who participate in capitalism more stupid over time. It has no desire to create meaningful lives for anyone. It’s sole desire is to become more and more efficient at consuming resources and turning them into commodities that can used to generate profits.