In return you get to live in a society with high trust, little crime and good social services.
This requires trust and ethics and the will to enforce it politically (and maybe a small homogeneous population).
The incentives in capitalism actually work out. When you can only spend your own money, and you have the freedom to choose how to spend it, markets are stochastically optimal for a huge range of allocation problems. Any sort of centralized system that tries to have only "the advantages of capitalism" usually fails because it doesn't make any sense game-theoretically or from an optimization perspective.
I'd say very soon you'd see fat cats sitting and deciding that on average their friends do better than the rest and here we are again.