I think the issue is not so much that capitalism is flawed as a system, but rather that private businesses can eventually grow to a size where they become international entities. Their loyalty is primarily to their organization, and they prioritize their shareholders over their nation. You could realistically argue that no international corporation even belongs to any nation in the traditional sense of the word at all, regardless of where they're headquartered or where the organization originated from.
When entities like this have the ability to influence or even control governments then nations become essentially meaningless except to the people who live in them. The reason globalism is bad is because it's much easier for a corporation to exist as an international entity than it is for an individual. Moving a factory from Idaho to Mexico is just a matter of crunching numbers, but for an individual employed at that factory to move to Mexico in order to keep his job, he would have to uproot his entire life, become a citizen of a new country, learn a new language, adapt to life in a new country, take a massive paycut, etc. It's not even remotely practical or desirable, so if you work in a factory and the factory moves, you have no choice but to find a new job. If there are no other jobs you can do, you're out of luck.
A company that designs microchips in California, manufactures them in China and sells them all over the world can make a lot more money than they would if they designed, built and sold their products exclusively in America. The stockholders make money, the engineers in California designing the chips make money, the corporate top brass make money. However, the guy in Idaho who lost his job and the gook making $1.50 an hour in Cheng Du probably aren't faring as well.
I fundamentally agree with
>>174883 that neither corporations nor international trade are inherently evil, and both can be good to have around. However, corporations cannot be allowed to subvert or replace nations as political entities. The Nation, simply put, is the common man's representation and identity in the world. Nations need to exist as entities that serve their own people, not the needs of other nations or the needs of international businesses. Such businesses should be allowed to exist and make money as their operations can be mutually beneficial to everyone, but they can't be allowed to just do as they please, and they should not be permitted to influence governments in any capacity. They exist as extranational entities and should be treated as such by governments.
National governments should be controlled by men who have the interests of their own people in mind, and the right of Nations to regulate whatever goes into or comes out of their country, be it goods or people, should be inviolate. Which means if America decides the example company making microchips isn't operating in the interests of America, America should be able to impose any restriction it wants on that company to rectify the situation. The company as an entity doesn't get a say in the decision, in the form of either votes or influence. If America says Company X either manufactures 100% of its chips in America or it can't sell them in America, then Company X either adapts or finds a different country to sell microchips in, end of story.
Within the borders of the country, I tend to think businesses should be free to operate more or less as they please. I really only believe in government intervention in business when it crosses borders. It's why I've come to conclude that AnCap is an impractical idea, even though it appeals to me on some level. The desire to belong to something, a community or a tribe or a nation, is a human need. Nations need to exist, and they need to have governments to act on the behalf of the people when dealing with other nations, or with extranational entities like large corporations.