That's reductive. Fact is, every single system needs guardrails to keep in balanced and in check. Globalization didn't cause the problems with capitalism. The problems were caused by insufficient guardrails and removal of guardrails.

Same with socialism and communism.

Whatever you do, you have to protect from people. In this case, that tendency to exploit.

I'll remind you that during thr heyday of Laissez Faire capitalism you had corporations hiring thugs to go shoot up worker camps. People had their children sleeping in shallow graves to survive the night raids, or at least make burial more convenient if they didn't. I'll argue that that's horrific.

EVERY system has weaknesses that some people will choose to exploit. Every. System. It's the presence or absence of guardrails that dictates the levels of horror when the system is allowed to drift toward abusiveness.