Every political or economic system I know of could work quite well, if all the participants of that system would come with the required charactetistics.
Capitalism could work, if no one was a reckless greedy asshole.
Communism could work, if no one was a powerhungry reckless asshole.
Democracy could work, if no one was a reckless powerhungry greedy asshole. Heck, even a dictatorship could work, if the dictator was benevolent.
All of those systems are doomed to be exploited because they don't take humans as they are and try to make the best of them, but because they always require some ideal circumstances, which are hard to achieve and are in practise not sufficiently widespread.
There are modifications to all of those systems, to make them work better. For example, humanistic capitalism. But still, there is no perfect system yet.
It seems that the best we can do is to create a system with self-correcting mechanisms incorporated, such that all the good and the bad of humans are taken into consideration, nurturing the good and reducing the bad. Democracy comes close to that, as it allows, discusses, demands and implements change and makes this process accessible for everyone. Still, it has it's own pitfalls and I am not sure whether a single democracy exists that actually works well.