>>3
No, it takes into account the fact consumers are morons by protecting their property rights thus protecting against fraud and giving them many choices if they are unhappy with a product or service.
>>5
There is corruption in every system, the fact these oligopolies and cartels are not in complete control over the government is the result of capitalism, though as you say, capitalism would be better if this corruption was dealt with. The inequality of capitalism is meaningless if you consider the fact the poorest are richer, just not as "richer" as the rich, a rising tide floats all boats.