>> as Adam Smith envisioned it. IOW, kill off the corporations (or, rather, revoke their permits - they aren't a service to the society anymore) and reinstate the direct ownership. What was wrong with any system of socialism so far is equally wrong in the corporate capitalism: there's no direct ownership, therefore no responsibility.

You have hit it square on the head.
Power without consequences.

The exact same thing is wrong in our government - Power without responsibility.

People are free to join or create the sort of worker co-ops you describe, and they usually end badly.
Most people don't want that much responsibility, and are much happier to just get their paycheck without worrying about running a business.

Corporate Capitalism does have a rough sort of responsibility: If management is poor enough, the company fails or somebody buys the stock cheap and makes changes. Either way, the bad managers lose their jobs. It does not happen nearly often enough.