Honest people will disagree, but the mot that William F. Buckley likes to quote (wish I could remember who said it) is worth remembering, that "the problem with capitalism is capitalists, but the problem with socialism is socialism." Hitchens seems to understand that, without giving up the point that (as recent trials have shown) the problem with capitalism is capitalists -- a point made about 250 years ago by Adam Smith.
With capitalism, you always need plenty of honest policemen. Of course, the capitalists you are trying to police (like Leona Helmsley with her famous saying: "Paying taxes is for little people!") will try to buy off the police, so you have to be really cool, really tough, and really alert to the sound of bribes hitting a desk somewhere. About eight years ago, Bo Pilgrim, the chicken tycoon, was videotaped from the gallery strolling around the floor of the Texas senate while it was in session, handing out envelopes with serious money in them, as a "thank-you" to helpful senators who'd just voted him a piece of custom-fit legislation. When the video hit the 10 O'Clock News, the embarrassed senators gave the envelopes back -- but Pilgrim never went to prison or even, so far as I know, had to answer any awkward questions.
Business isn't inherently moral; the values of the marketplace are pre-Judaeo-Christian and are often in conflict with society's ideas about civic conduct. Corporate governance, monopoly, oligopoly and oligopsony, tax evasion, and the drive to dominate competitors, suppliers, employees, and customers will always be a problem with private businesses -- a problem that grows exponentially with the size of the enterprises being policed and their ability to evade, forestall, compromise, and defeat the watchdog agencies charged with their oversight.
And, of course, the brazen shakedown of private businesses by politicians becomes a problem that grows exponentially with the size of government.
By the way, re: your story about Bo Pilgrim. Years ago I remember listening to a radio interview with Gore Vidal who said that his father was a bagman for LBJ - - said he routinely delivered brown paper bags full of cash right to the the man's desk.