Any system made up of or run by men is only as good as the men of whom it is comprised. That being said, thus far Capitalism is so far the best system devised by men to maximize opportunity, prosperity, and freedom in the world. I love this video from the late Milton Friedman that explains how it works:
Even in something as simple as a pencil, we have people come together from dozens of industries in several different nations. These people might not like each other, but they do not generally refuse to sell pencils to you despite differences in religion, age, race, or politics who "might hate each other if they ever met", and so we come together anyway as equals at the cash register of civilization.
When you walk into a store, generally speaking in a pure capitalistic society, the price determines intercourse. The clerks do not deny the sale or change the price depending on your demographics or wealth. If you can buy it and want it and accept the price, they will sell you whatever you like. Look at Arabia- where there live millions of people who hate Christian, Constitutional capitalists. Yet, they sell us millions of dollars worth of oil daily because we are willing to pay and because they would rather have the money for other things.
Capitalism is blind to everything except need. While sometimes they create need, they only make and sell things that someone somewhere will buy. They do not make electric cars because it will save the planet unless saving the planet will help them make more stuff. They do not sell pencils only to people born in Iowa or who vote party line or who drive sedans. If you want it, and you're willing to pay, the Henry Higgins of the world will sell to anyone, even if you are to them as Eliza Doolittle was to her teacher.
Look down through time, and the most successful and happy nations ever were those who had largely free trade. No matter what they tell you today, America is not languishing under 'unbridled capitalism'. Obama insists on taxing 'millionaires and billionaires' and evil corporations (nevermind GE paid no tax in 2010). Governments always look backwards, either protecting the industries that exist or endorsing the enhancement of those they happen to prefer. When government withdraws, the successful rise to the top. When government withdraws, the failures fall out of the bottom.
Capitalism responds to the needs and wants of the people. Their transactions encourage the successful and make millionaires of teenagers who design video games, iPhone apps, and other quesquilia because those are things people actually want. Furthermore, the things people actually want do not need government subsidies to survive, just like Apple, once its intellectual property was protected, and Rowling with her wizarding wormhole now dominate store shelves and stock offerings.
Americans are ok as long as their lives are not interrupted. We notice the rise in costs from war when building materials, food, and gas rise in cost because they are needed for war or from countries with which we are at war. Most of the people in those countries are not touched as much because their lives are not as comfortable as ours as a rule and because their leaders use the money to advance the leaders in lieu of the people. However, when people have options and understand how the intercourse of commerce works, they work for peace so that everyone can enjoy what they please as they please and as they can afford it.
Capitalism and freedom are linked. Capitalism by the conscientious requres that good men be put into leadership positions. Corruption begins in the hearts of the men who surround the table, whether that's in a Board meeting or a Cabinet meeting. As long as the men who make decisions govern themselves, you can count on their ability to gover you in such a way that you are happy and free. Businesses do not hurt people. People do that. Businesses are really just a bunch of words on paper. People also do all the good things too, and good people make for good business in every aspect of society.
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