Hierarchy can work well, particularly for growing companies and making decisions.
It obviously has problems as a form of government, but the incentive structure of capitalism is a good one for work.
Even in democratic governments with elections you still have a decision hierarchy somewhere (hopefully just with some checks on their power)
The inventive structure of capitalism is good for capitalists. Why would they make it any other way?
You get that from proper incentives. Capitalism is mostly about creating an environment where people can leverage those incentives as easily as possible.
There's a deep irony that the system set up based on incentivizing and rewarding growth (and occasionally greed) has helped raise millions out of poverty while the systems based on altruism have led to the deaths of millions and massive amounts of suffering.
You do know that 850M of those live in China, right?
The cultural revolution, hundred flowers campaign, and current Uyghur genocide are some of the classic negative aspects of CCP control. Those aspects are more the standard fare communist policy.
The good that's there comes from their embrace of capitalism and market incentives. The bad comes from the standard communist one party control, it's also what eventually leads to problems.
"After Chairman Mao Zedong's death in 1976, Deng gradually rose to power and led China through a series of far-reaching market-economy reforms, which earned him the reputation as the "Architect of Modern China"." [0]
[1] https://data.worldbank.org/indicator/SI.POV.DDAY?locations=C...
Capitalism and Communism has suffered the same fate from the same source, and this will remain true until we move into the age of plenty from the age of want, and probably beyond.
Today we have more people starting more billion dollar companies more easily than any other time in human history. We have more freedom of movement, more wealth, etc.
There's a staggering amount of growth, a staggering amount of capital investment.
No system is its perfect ideal (and there are obvious issues today), but things are a lot better than they were in the age of a handful of national companies.
I encourage you to research Mark Blyth's work on generational wealth and check out 'Angrynomics'
https://www.gq.com/story/mark-blyth-economics-interview http://cup.columbia.edu/book/angrynomics/9781788212793
As for others that see benefit less directly: https://press.stripe.com/#stubborn-attachments
Growth (when constrained for human rights and environmental protection) is the best way to help the most the fastest.
You see it everywhere, massive reduction of global poverty, infant mortality, etc. Even just things like the ability for almost anyone to have an iPhone and use of Amazon/two day shipping are examples. Inexpensive food is another.