Many men who would have done well as labor or middle management in, say, 20th century factories, now find themselves the victims of a rapidly changing, ever-more-concentrated, ever-more-automated global capitalist economy that has less and less need for them. And to them it feels as if no one cares about them. To riff on Churchill[a]: Capitalism is the worst economic system ever invented... except for all others that…
That's a pretty useless quote. It entirely ignores the fact the economic systems all exist on a spectrum from extreme libertarianism to complete state ownership. The question has never been capitalism versus socialism, it's always been "how much regulation do we want as a society in exchange for a higher floor in our quality of life?" (and its follow up, did that regulation actually achieve its goals?)
Capitalism isn't even synonymous with free markets. Capitalism just speaks to who gets to own the businesses (those with the capital). There are alternatives other than "the state". Worker cooperatives exist and are perfectly functional and successful. Which means one economic system that isn't often spoken about might be described as "Free Market Socialism", in which businesses are governed democratically by their workers in a free market. That system doesn't really fit on the above referenced spectrum.