Yeah, I think that's an extremely ignorant and outdated ideology. Which is evidently progressing towards human extinction.

Optimizing towards the metric of monetary reward/economic growth is just horribly disconnected from human welfare.

There is also the fallacy of assuming all things interchangeable for market dynamics when in reality some things running out means "down-regulating demand" by killing off most of the population, e.g. phosphate rock.

Capitalism isn't set up to get us two cookies later. There is just no incentive for the market to give a fuck about humans. It's like the "stamp making AI" thought experiment. Or the attention optimizing algorithms mindlessly destroying political culture. Oversimplified metrics spiralling out of control.

Tho, economists have realized this and most markets are recognized to fail without regulation for their inherent nature. E.g. housing, water, electricity, education, ...

And keep in mind, capitalism (when working properly) is supposed to find minima. Not create further barriers to getting things done. The group that gets the job done at the highest output:input ratio for as long as the problem they are solving is relevant was the intended optimization point. Irrational markets being what they are, this frequently does not converge as planned.