What should be done about the serious flaws in capitalism?

Capitalism encourages opportunism which can be a good thing or a bad thing. Capital encourages the kind of selfishness that says every man for himself. Capitalism encourages short-term profit and benefit for the few with little or no regard for the wellbeing of the many. The theory is that the wellbeing of the many will automatically be taken care of to some extent as a by-product of how the system works. Capitalism encourages meriotocracy which in theory is a very attractive idea but it does work very well in practice because whether you rise to the top or sink to the bottom does not just depend on hard work. It also depends on luck, environment, cirstances, birth cirstances, genetics, education, a willingness to be unscrupulous, amoral, immoral, unethical, deceitful, ruthless, narrow-minded, single-minded or otherwise misguided or corrupt. Capitalism is a very amoral system focusing only on wealth creation, supply and demand. How can these and other flaws be fixed?