So if you don't work, you suffer agony (pain). What does that sound like?
Absolutely, that doesn't mean it's great in all forms though. The South's antebellum economic system was capitalist too. The US system can certainly improve.
>It sounds like you’re insinuating that our current economic system is akin to getting lashes for not picking cotton.
The lash and the cotton (mostly) is different, sure.
No, it sounds like the article is saying that outright.
It just has a few more levels of abstraction now.
tl;dr: An economic system where every company is a worker-owned coop, the board is elected by the workers and the various coops compete in the market.