Umair Haque, always a great romp! Many thanks.
That's popular thinking but kind of nonsense. You are giving capiltalism way too much credit -- or debit, which ever way you want to see it. All capitalism is is the flow of people, money, goods and services -- and we would not enjoy the standard of living we have without it. Capitalism is not racism, love or hate but simply the way we do business and how we prosper. All can benefit by the capitalist system and it's only when it is distorted by monopolies and restricting people (and money) from moving that there is harm including poverty. A strong social economic platform is warranted though to run along side. Unfortunately this is currently insufficient and leaves some people suffering and capitalism handicapped.
The overwelming isssue feeding racism and those left behind is the huge disparity of income, wealth and (because of these) opportunity. If we can find ways of achieving these we will be better off and considerably happier. I wrote "Wings to Fly -- a Platform for All " which addresses the question and I invite you to read on MEDIUM.