Your insight aligns with my own analysis. (If it maters, I do have an M.A. in economics.)

I think the best definition of capitalism is “mass production of goods and services for sales in geographically extended markets.” That divorces it from any broader context that could make it into an ideology.

The contemporary economy is dominated by capitalistic enterprises. Since the Great Depression, central banks and central governments have worked together to support the business sector to keep the economy from developing a deflationary spiral. That is what an economy dominated by capitalistic enterprises has an innate tendency to do (because in the pursuit of profits they invariably overproduce in the short run — but the “short run” is a continually occurring phenomenon, and therefore a permanent presence).

My studies have taught me that at bottom, as far as society is concerned, the solution is to change the way the existing economy is supplied with money: “For Crying Out Loud, ACCEPT That A SOLUTION Actually EXISTS” (a “3 min read” — including options for further reading — here in Medium). [The current situation has put my frustration into hyper-drive.]