Capitalism at least tries to use human selfishness to achieve a better outcome, even if imperfect.
Could it be better? Obviously. I’m not convinced communism is the answer.
Could it be better? Obviously. I’m not convinced communism is the answer.
Maybe you're not aware, but it was the socialists who coined the term "capitalism", and their definition has no relation with the one you gave.
The definition is simply: the system where private property of means of production allow the accumulation of capital.