Whitestrake Pelinal
Like a dream without a dreamer
In the absence of moral men, absolutely.. but the amoral will turn any system into a hell on earth. Capitalism is not a political system, it is a basic function of human nature -- the desire to be rewarded for our efforts, to keep the fruits of our labor, and to trade them with others so that our material needs are met and our wants are often fulfilled.Capitalism might not cause degeneracy, but it certainly encourages it.
When men are deprived of the fruits of their labor, they labor less, and some will not labor at all. Communism is famous for this, having beggared many nations, but it's not the only road to ruin. Any form of excessive taxation, whether through lawful taxes or corruption, has the same effect, and what is 'excessive' is decided personally by every man.
The solution to the threat of degeneracy is Christianity. Nothing less will suffice. Nationalism can help, but a nationalist regime run by the amoral ends up just as awful in the long run, i.e. China.