Well, what is "economy"? Economy exists because we split work, and we do that to optimize taking care of our needs. I make tools for more efficient hunting, you do more efficient hunting with that in order to get food not just for you, but for others, including me, with these. It also means if machines do most of that work there will actually be less economy, but more free time for humans.
If you look at what is commonly called "economy", more and more of what is done there actually has a negative real economic value, it effectively hurts humans. The reason behind that is how we measure this economic value: It is completely broken. But as long as people strongly believe in this garbage, everything is focused on that, even it is trailed by chaos and destruction.
So capitalism, at least in its current form (neo-liberalism), fails as hard as socialism or communism, for that matter. Reason for that: Humans.
I also don't think anyone expects completely equal distribution of everything, but things are so far off in the other corner by now that something needs to be done, fast.
