For the record, I am by no means a socialist or a communist. Anyone who's read a bit of history will know that they simply don't work.
I think capitalism is, unfortunately, the best system we've got. I'm not particularly thrilled about it, but neither am I against it. I think that capitalism has the capacity to work, but it needs checks and balances, just like the government. You just can't trust people (CEO's, companies, corporations) who will put their paycheck above your drinking water. The quality of life of over 6 billion people is, to my mind, more important than the profits of a select group of shareholders. As you pointed out, the inherent flaw in capitalism is short-term profits for the individual or the group, and not considering the people who are affected by, but take no part in, corporate actions.