The problem is when greed/other human attributes gets involved it stops working. As with any of them, it's all about the people and how they implement it. I don't think capitalism sounds good at all on paper, but has worked for quite a while, mostly due to some degree of working standards and unions.
Remember most of these haven't been in use for longer than like 100 years. Before 1920 it was largely a mix of other religious/monarchy ideals.