The Coronavirus pandemic can be a turning point for capitalism, for the better. Our current crisis is unique, but it’s only brought our economic system’s flaws into sharper relief.

Capitalism has tremendous positives. Namely, it’s more efficient than any other system we’ve tried. Goods are allocated to those willing to pay, not by a central authority. Indeed, the implementation of market-driven economies has brought hundreds of millions of people out of poverty in the span of a single generation, namely in China and India.

The system is not without its disadvantages. It’s humanity’s defining double-edged sword. As the New York Times’ Max Fisher and Amanda Taub write:

“There were always drawbacks. Most obviously, markets do not take morality or ethics into account when distributing necessities. And poverty, inequality, discrimination, inefficiencies and imperfect information have always warped distribution of goods and services away from the smooth curves the theories predict.”

If this virus proves anything, let it be that we are all inextricably connected. Your wellness is my wellness. Your spending is my income. Your wellbeing is my wellbeing. Humans are hardwired to connect as a species. We need a system that allows us to grow and strive, but also to care for one another and our planet.

The pandemic has prompted leaders to slow entire sectors of their economies to a screeching halt, decisions that will have systemic and long-tailed consequences. It’s too early to know the full cost, but the UN’s most recent estimate predicts a global recession and a $1 trillion hit to global income.

This moment is unique because the actions required to combat the pandemic are at odds with market incentives. For example, those stockpiling and selling suddenly scarce items like toilet-paper, masks, and hand-sanitizer at exorbitant prices are only following the dictates of the market. This is how the system is set up. But these people are also buying essential protective gear that hospitals need. Panic buying and hoarding mean shelves are empty and not everyone can get what they need.

Capitalism’s inadequacies are being felt most acutely in the American healthcare system. In the United States, healthcare goes to those who can pay. Fisher and Taub write:

“The huge bills for a hospital stay or serious illness are beyond many families’ means. That had terrible costs, financial and otherwise, before the pandemic. But now, if people who are sick avoid going to the doctor for diagnosis or treatment because they are afraid of catastrophic medical bills, they will be more likely to spread the disease.”

Alas, the coronavirus does not discriminate based on insurance status or income bracket.

It’s unclear what the world will look like once we emerge from this crisis. But this much is clear: this can be an inflection point. We can emerge from this crisis committed to capitalism, yes, but not so committed that we readily pay the price of deep human suffering, broad inequality, environmental devastation, and of a fundamental unreadiness for crises like the one we are currently experiencing.

Here are a few ideas that we can build on to move capitalism forward in a way that harnesses its innate advantages, while mitigating its downsides.

End shareholder capitalism. Stakeholder capitalism is the alternative we need. In this system, “corporations are oriented to serve the interests of all their stakeholders. Among them being customers, suppliers, employees, shareholders and local communities.” In shareholder capitalism, corporations maximize shareholder value at the expense of everything else a corporation could and should do, like minimizing environmental destruction and caring for workers. Universal healthcare & paid sick leave. Enshrine healthcare as a basic human right, not as a commodity available only to those with means. When you’re sick, you can get care. Period. Do right by people left behind by the modern economy (and those who stand to be left behind in the coming years). Universal Basic Income is the most straightforward way to do this, but access to education and job training are essential, too.

Will these changes result in lower profits? Yes. Will they slow growth? Yes. And we should make them anyways. Capitalism has gotten us tremendously far as a species. Let this crisis be the impetus we need to evolve it into a force that will carry us forward into the next century and beyond.