I believe it is possible for contemporary capitalism to collapse. If we consider the tenets of capitalism we can easily see that the point of capitalism is to create larger and larger businesses until the money is essentially captured by the smallest group possible. Once that happens the game is over and the system collapses. Capitalism is a pretty poor economic system in my opinion, it doesn't really support sustainability.
The way capitalism has continued to disenfranchise the lower classes, provide massive amounts of wealth and luxury to an extremely select few, and put the United States of America in more and more debt that grows by the second, the failure of capitalism as we know it is an inevitability.
No economic or political system can last forever, and this is especially the case with capitalism. Capitalism has been wreaking havoc not just on populations of labors, but even more importantly the environment. The environmental toll of capitalist economic policies will endanger the very system that caused them in the first place.
Capitalism will not be collapsing anytime in the foreseeable future. Capitalism has vanquished all of the systems that have sought to replace it. Communism is dead. The only place that still practice it are the backwaters of North Korea and Cuba. China is nominally a communist nation, but only in name. People vote with their feet. The migration flows are to capitalist nations with free markets.
Capitalism gets a bad rap because of two things. First is that what are seeing is corporatism rather than competitive, free-market capitalism. Our laws and corporate welfare support big business while inhibiting competition. This is why we need libertarians to become a force in government, to move towards a functional free-market economy and the corrupted capitalist structure. Second is that the population has become too whiny and entitled, too many people go through life now pointing fingers and ranting about what is owed to them. Of course capitalism doesn't appeal to these people.
All currently non capitalist countries are gradually moving towards a capitalist system. It is indeed the best way of increasing productivity and creating incentives. Why is the USA doing so well while China and Russia either are in recession or have huge amounts of poverty. Not because of hard work, intelligence, technology or civilisation but Capitalism. You may argue that an increasing number of young people like college students regularly oppose capitalism but we can see that as they mature most people gradually move towards capitalism as the grow up. This is why older people today favour capitalism more while 30 or 40 years ago the same people would vote against it. In conclusion, capitalism will keep upright for the foreseeable future.
Clearly Capitalism does not benefit everyone. The fact that the richest 148 families have contributed more than half of the donations to elections campaigns seem to be evidence that our system isn't going to change too much.
The fact that we encourage tax-benefits to create profit, but have no system in place that forces that profit to be put back into the corporations that made them, leads to the richest 1% pocketing the money rather than re-investing it.
The real reason that Capitalism and larger the United States leadership in this economic system will not collapse is that like those manipulated in George Orwell's 1984, the governments of today are smart enough to give beer to the proles and keep them just happy enough to not revolt. The statistics are obviously. Capitalism truly benefits on the very wealthy few, but the myth of capitalism and the propagation of the romantic American Dream that if you work hard enough, no matter what your circumstances, you will succeed is patently false.
The power of the status quo and the intelligence of those running it for self-preservation are very capable of trickling down a few tidbits of success and comfort to make sure the revolution never actually come.
If Facebook, Apple and Google partner, however, we may just see some real changes ; )
It is an economic theology with theological variations or sects within it. A society which practices radicalized capitalist theology may suffer collapse. Why? Because capitalism does not answer fundamental questions and cannot deal with fundamental issues. It is essentially a system which has as its foundation property rights. The fallacy that it allocates resources better than some other theology is just that, a fallacy. Theologies do not allocate resources, humans do. Smith's fallacy that self-interest leads to common good is nonsense. So capitalism collapsing? No. Societies finding alternatives that deal with the issues they face? Yes. Discard economic theology and radicalized economic theology in particular.