The more salient term isn't "capitalism", but rather "capitalization".
Most investment is done by converting anticipated future value (modulo some degree of risk), and encapsulating it into an asset price, which is relative to the opportunity cost of alternative investments, and the current discount rate.
And capitalization doesn't have a goal beyond honoring those future returns (or "embedded growth obligations"). It doesn't care whether those returns come from innovation, production, rent-seeking, or even a "greater sucker" Ponzi scheme. Investors (and their financial agents) operate almost entirely on Make Number Go Up ("buy low sell high"), and any incentives that result in win-win increases to human flourishing are entirely secondary effects.
Most investment is done by converting anticipated future value (modulo some degree of risk), and encapsulating it into an asset price, which is relative to the opportunity cost of alternative investments, and the current discount rate.
And capitalization doesn't have a goal beyond honoring those future returns (or "embedded growth obligations"). It doesn't care whether those returns come from innovation, production, rent-seeking, or even a "greater sucker" Ponzi scheme. Investors (and their financial agents) operate almost entirely on Make Number Go Up ("buy low sell high"), and any incentives that result in win-win increases to human flourishing are entirely secondary effects.