Earlier quoted context omitted.
What has failed are completely "collectivist" or "individualist" societies. Societies that balance the two (like the post WWII US) are the ones that have advanced their standard of living the most.
The US became a superpower long before WW2. The US was the deciding factor in WW1, and the Germans were shocked at how well-fed and well-equipped the US soldiers were, even with having to ship everything across the ocean. The US saw the most spectacular rise in the standard of living from 1800 up to WW2 the world had ever seen. This was all due to the free market, not collectivism. During WW2, the US supplied its all…
The US were a economic power prior to WW1, they only became a true super power during WW2, in particular after Pearl Habour. The full mobilization of society, industry and science made sure of this. This, and the fact the US won the Pacific.
I know it is a popular view of WW1, that it was only the US entry that won it for the Entente. Simply not true, WW1 is not WW2. And even WW2 was not won by the US alone.
Finally, the US war economy of WW2 was decidedly not free, is was a complete structured war eceonomy with production goals set by the government. The implementation of those goals was capitalistic, but not free.