I'll premise this with the fact that I largely agree with the economic ideas of Richard Wolf and Mark Blyth but not necessarily with the prescriptions of their assessments. While communism a la the USSR and China are failures there are concepts that are viable in democratization of workplaces and democratic planning rather than centralized state planning. That said, there are things that can be done to tame capitalisms excesses and provide for common welfare without a massive overhaul of modern economics. Below is one I came up with a few days ago to address societal/environmental neglect by corporations in the US though I'm sure it could apply elsewhere.
Proposition 1: Abolish the minimum wage. Impose an executive compensation cap relative to average worker pay.
Purpose - Prevent wage stagnation and consolidation of wealth while incentivising increased worker pay but not mandating it.
Proposition 2: At the federal level mandate the creation of "community shareholdings". Companies with public shares would be required to apportion shares to community shareholding. This apportion should be a proportion of total shares rather than a specific number. The amount my brain toys with at the moment is between 1/5 and 1/3 of shares. Each municipality that the corporation operates within is apportioned an equal proportion of shares and benefits from any mandated policies regarding responsibility to shareholders the company may have. This means smaller corporations will apportion a large number of shares to a few municipalities while larger ones will apportion smaller numbers of shares to more municipalities.
Purpose - By requiring payment and responsibility to municipalities they operate in corporations will act more responsibly and efforts to take advantage of municipalities are disincentivised as they will receive back the profits gained from such manipulations in shareholder dividends. This also acts as a stopgap against inflation as the feedback loop into UBI from profits also discourages price hiking.
Proposition 3: Funds gained from said community shareholdings are used to fund a Universal Basic Income.
Purpose - As automation increases and per-capita productivity reaches new levels, full employment has started to become an impossibility and will only get worse. Without a safety net to "catch" those disenfranchised by these changes our economies will collapse due to lack of financial mobility and trade as well as the governments which depend on those economies.
This is very rough but addresses many of the core issues of social welfare.