I think this is too pessimistic. Capitalism is highly unstable. In fact, it's one of the few socioeconomic systems That don't have inbuilt mechanisms or institutions to counter excess generated by other institutions or extractive social classes. It instead relies on schumpeterian innovation and rapidly increasing the use of hydrocarbon to generate just large enough of a surplus that a piece could be thrown to (part) of the workforce in an attempt to prevent social breakdown. the rise and fall of the welfare state happened so fast in capitalism that, an analogous event in history centuries ago might not even make it into a textbook covering the period. From an historical perspective, capitalism seems intensely precarious to me.
-Nathan Tankus ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------