And it has worked reasonably well, on net, for those centuries. As Winston Churchill popularized:
it has been said that democracy is the worst form of Government except all those other forms that have been tried from time to time
The same can be said for capitalism. Politicians think the answer lies in regulation, but that leads to cronyism, which is to blame for most of the crap we deal with.
Don't get me wrong, I'm not saying "deregulate all the things," I'm saying we need to be arresting and jailing execs instead of fining companies (and increasing fines), busting up monopolies, etc. If that means we need to remove some regulations and whatnot, fine, but dramatically increase the penalties for breaking the law. Government needs to be as separate as possible from the market to be effective, just like a coach can't be a good referee when their team is on the field.
Because changing a whole economic/government system has proven to have a very high chance of failure, resulting in people being even worse off. For every success story, there are dozens of failures.
So unless you have a gradualist/reformist approach that either has been proven or is easy to back out of, I'm not interested.