Sure, it does. It's a powerful economic engine. But it's out of balance and producing rampant inequality as the vast majority of the profit flows to a tiny minority at the top and the joke of trickle-down drip, drip, drips to the vast majority.
--
It was not always this way. From WWII until the mid '80s. During this period, we had a thriving middle class with many good paying jobs with benefits and pensions. In 1970 the biggest employer in the U.S. was General Motors. Today it’s Walmart. Walmart offers their employees classes on how to make the most of the government benefits they all qualify for.
--
Capitalism works if it’s balanced by strong government regulation, powerful unions and adequate taxation. Absent those capitalism runs amok as it is today.
--