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Capitalism is without a doubt the most efficient system yet devised for allocating resources productivly. Friedman was definitely the one of the greats, I've never read anything by him that did significantly change my understanding of economics, even when it was about ideas that have been somewhat discarded by economists in general, there is always at least some nugget of brillant understanding explained in an accessible and cleaver way. Like I've said in reply to many of the post that degenerate/question capitalism on Hubski, we don't live in a capitalist society, we never have. It's a mixed economy. I tend to think that you probably couldn't have a democracy under any system but a mixed system, in a pure capitalist/libertarian society there would be no reason to have a government, everything would be determined by the market.
Mixed Economy, we got it. And no capitalism isn't the villain.
Capitalism is an economic vehicle; a Democratic Republic is a form of government - this is the case for sure. We have, in the USA, NEVER been a pure democracy. In fact, many founders abhored a pure democracy (in their own words not mine). We started as a Democratic Republic, but it got "tainted" by other sytems - namely forms of Socialism.