What’s your more effective, less flawed alternative with a proven track record?
There were times when NASA went to space, not incredibly wealthy individuals…
I think Julius Caesar demands a word if we were only supposed to use systems with proven track records.
It's not an either/or situation... we can improve on the capitalist system we have today (in the US) through government policy (taxes, whatever). I fear we're actually too late, and ceded too ,much influence to the billionaire class, but that's not totally proven out yet.
High captial tax rates, strong labor protections, and banned stock buybacks as a start. So much hubub over "make america great again" but we seem very coy about looking at fiscal policy back in the "great" days.
And I don't even think these are the best ideas. But they have "a proven track record".
Marginal tax rates on income and wealth that make being a billionaire impossible? The US was prosperous with much higher marginal tax rates for instance.
We should treat existing fortunes as bugs and correct them.
The Islamic system does not permit uncontrolled capitalism, requires fair financial transactions, is pro rights for both rulers and the population, enforces Zakat (alms tax / a form of wealth tax).
The "proven track record" part of your question is shortsighted. We shouldn't restrict future political thought by past political thoughts. We'd never see any progress that way.
If you're asking which one of the three I think we should focus our attention for change, I think the obvious answer from both a moral and logical standpoint is capitalism. The combination of democracy and free speech means money is political power. Allowing individuals to amass this much political power is both unjust and destabilizing. That goes for companies as well. If companies are going to be amorally motivated purely by money, we need to do a better job of pricing in externalities to put reins on that amorality.