Is unregulated capitalism like a cancer to the immune system of society?

John McMurtry, professor of philosophy at the University of Guelph (Ontario, Canada), in this essay, states that the rampant growth of global capitalism, like cancer, threatens to break down our society’s immune system, and if not soon restrained could reverse all the progress that has been made toward social equity and stability.

There are some transnational corporations which, according to the Business News Insider (among other sources), have a larger annual budget than the GDP of some nations, and with that kind of budget, can influence governments (despotic and democratic alike) to make laws favorable to their interests no matter what the cost to society. How can these corporations be regulated, or should they be?