I feel like people believe in either the capitalism or communism. The draw from both are interesting. On the one hand you have the ability to reach any peak you want - by creating something that people want. On the other, the focus is more on the laborer, a promise to make sure everyone has the basic needs.
I'm a free market person, but with guardrails. I think just because guardrails exist does not mean Capitalism is broken or does not work. I also believe that from a political perspective, one party (republicans) are afraid of adding guardrails because it might mean capitalism is weak compared to the alternative.
And on the other hand, the democrats are fully willing to bend the knee to the DSA and let the system collapse.
So what will actually happen? I don't think America will ever be a communistic society, but there may be severe pain in the coming years until everyone in congress is replaced with something else (maybe Forward Party comes back?)
I'm going to argue that the original sin of capitalism is change over time.
The story of how microeconomics works so that the invisible hand empowers, say, a kid's lemonade stand, is straightforward and real.
The trouble is that the market can only guess at how future investments will pay off or how technology changes so we get ruptures when it is wrong: the business cycle is one consequences of this (accumulating debt now that can't be paid off easily later) but many of the other complaints about "the market" come from this too.
If you consider the "cost of living" issue for instance I think the real issue is that people don't like change; because technology is changing and the walls of the environment are closing we (or our children) will have hell to pay for instance if we don't rebuild our energy system, change the way we drive, etc. That's all going to cost money and things will be different -- maybe you want an 8 seat SUV but maybe you are going to get a 4 seat sedan. The thing is right now we don't have a completely clear picture of what the future is and it is certain that X% of any investment we make will be wasted.