How does capitalism provide freedom?

The American laissez faire system seems to be falling apart at the seams. Power and wealth is becoming more concentrated while seeking to solidify that position through limiting the freedoms of the lower classes.

Regular people are burdened with student debt and health care costs all within a back drop of little to no social support. Unions striking for better working conditions have their corporate controlled health insurance stripped away. Banks write balance sheets as they see fit, devaluing your wealth and causing financial crises. The list goes on.

Being forced in to wage slavery to survive in this system doesn't sound particularly free.