To add on to this, unbridled capitalism also leads to more goods and services affordable for the average consumer. This makes the idea of taking a lower paying job appealing because you can still live a fairly comfortable life.
probably not the best example, today this is much worse vs. during the early days of the Industrial Revolution
The one key missing ingredient for this is competition. Without competition there is just a monopoly/cartel, leading to rent seeking behavior and products/services with too low quality and too high prices.