I think one thing similar to one of the things he said is to limit the amount of tax free equity one can hold in a 401K plan. Like say if you hold more than 50% of your 401K as equity, there will be a tax incurrance. That way, government is not "dictating" your portfolio, but it is "encouraging" you to have a well-balanced, more conservative portfolio. Dictation by the government on one's portfolio I don't think would work any better than prohibition worked, but small things here and there I think can be done to encourage people to have more conservative holdings, and therefore keep a lid on market "bubbles".

That said, I think I have concluded that capitalism will never go away, simply because we are the "gene machines", programmed towards the best interest of the "selfish gene", and therefore, we will always have a "greed is good" mindset. It is in our DNA. We can't escape it. A socialist society would never happen in the long run, because quite simply the competition of genes would not allow it. No political or economic theorist can beat natural selection. Survival of the fittest is universal, it created us, and our markets, and will continue to shape our lives, like it or not. My opinion anyway.