Yes, but it also leaves a lot of waste as well.
Also, one of the assumptions in your statement is conditional. Capitalism is one of multiple forces that serve to constrain who that success is available too. The playing ground is not and has never been equal..ask Mr. Trump!
It's hard to know exactly to what degree though as there are many factors at play. Just like its hard to know about other economic systems. The Soviet Union tried some form of socialism. It didn't work on the whole. Why? Was it the system? Was it the unique qualities of the land of the SU? Was it the fact that the SU was a dictatorship? How much did its past contribute? etc.
All this to say that economic systems have a context in which they are prosecuted and to wholesale condemn them ignores that under other circumstances, these economics might work. Same thing with capitalism. It may be a good system given the right constraints/culture..Then again, at that point you may have to give it another name!