At least this is how it reads to me.
Your post had me up for a bit research while in the process, ran across this Huffpost (Black Voices) article from 2013 by Dion Rabouin (there's a few interesting links there) :
http://www.huffingtonpost.com/dion-rabouin/martin-luther-king-capitalism_b_2506893.html and it all got me to thinking.
Only market capitalism solves the two major problems that face any economy - how to provide an incentive to innovate and how to solve the problem of decentralized information," said Prof. Gary Wolfman of Hillsdale College. "The reason there is so much innovation in a market system compared to socialism or other forms of central planning is that profit provides the incentive for innovators to take the risk needed to come up with new products."
Wolfman goes on to point out, "Over the last 100 years capitalism has reduced poverty more and increased life expectancy more than in the 100,000 years prior."
But capitalism doesn't work for the same reason Communism and socialism don't work -- capitalism ignores the fact that life is social. Perhaps more importantly than the existential crisis it creates is the economic crisis it inures.
MLK, Jr.
http://kingencyclopedia.stanford.edu/encyclopedia/documentsentry/where_do_we_go_from_here_delivered_at_the_11th_annual_sclc_convention/
I want to say to you as I move to my conclusion, as we talk about "Where do we go from here?" that we must honestly face the fact that the movement must address itself to the question of restructuring the whole of American society. (Yes) There are forty million poor people here, and one day we must ask the question, "Why are there forty million poor people in America?" And when you begin to ask that question, you are raising a question about the economic system, about a broader distribution of wealth. When you ask that question, you begin to question the capitalistic economy. (Yes) And I'm simply saying that more and more, we've got to begin to ask questions about the whole society. We are called upon to help the discouraged beggars in life's marketplace. (Yes) But one day we must come to see that an edifice which produces beggars needs restructuring. (All right) It means that questions must be raised. And you see, my friends, when you deal with this you begin to ask the question, "Who owns the oil?" (Yes) You begin to ask the question, "Who owns the iron ore?" (Yes) You begin to ask the question, "Why is it that people have to pay water bills in a world that's two-thirds water?" (All right) These are words that must be said. (All right)
Now, don't think you have me in a bind today. I'm not talking about communism. What I'm talking about is far beyond communism. (Yeah) My inspiration didn't come from Karl Marx (Speak); my inspiration didn't come from Engels; my inspiration didn't come from Trotsky; my inspiration didn't come from Lenin. Yes, I read Communist Manifesto and Das Kapital a long time ago (Well), and I saw that maybe Marx didn't follow Hegel enough. (All right) He took his dialectics, but he left out his idealism and his spiritualism. And he went over to a German philosopher by the name of Feuerbach, and took his materialism and made it into a system that he called "dialectical materialism." (Speak) I have to reject that.
What I'm saying to you this morning is communism forgets that life is individual. (Yes) Capitalism forgets that life is social. (Yes, Go ahead) And the kingdom of brotherhood is found neither in the thesis of communism nor the antithesis of capitalism, but in a higher synthesis. (Speak) [applause] It is found in a higher synthesis (Come on) that combines the truths of both. (Yes) Now, when I say questioning the whole society, it means ultimately coming to see that the problem of racism, the problem of economic exploitation, and the problem of war are all tied together. (All right) These are the triple evils that are interrelated.
Suggested to King by Marion Wright, director of the National Association for the Advancement of Colored People’s Legal Defense and Education Fund in Jackson, Mississippi, the Poor People’s Campaign was seen by King as the next chapter in the struggle for genuine equality. Desegregation and the right to vote were essential, but King believed that African Americans and other minorities would never enter full citizenship until they had economic security. Through nonviolent direct action, King and SCLC hoped to focus the nation’s attention on economic inequality and poverty. ‘‘This is a highly significant event,’’ King told delegates at an early planning meeting, describing the campaign as ‘‘the beginning of a new co-operation, understanding, and a determination by poor people of all colors and backgrounds to assert and win their right to a decent life and respect for their culture and dignity’’ (SCLC, 15 March 1968). Many leaders of American Indian, Puerto Rican, Mexican American, and poor white communities pledged themselves to the Poor People’s Campaign.