Pure Capitalism has failed with the pre WWI power States dividing up all the Land in the world.
Um. That wasn't pure capitalism. That was (at best) State capitalism. But I feel we might be falling down the definition hole here. Pure capitalism is simply this: Private ownership of the means of production (land, money, machinery, etc), and competition of producers in a free market for profit. For a society to be called "pure capitalism" that principle must be applied to
all industries, including defense and justice, two industries which the State traditionally monopolizes in the name of the public. Thus, in order for "pure capitalism" to exist, there must
not be a State. And it is precisely this monopoly which caused the failure of the markets built around it.
Almost 70 years before WWI, Gustave de Molinari outlined the conditions which inevitably caused it:
I agree Adam Smith's Capitalism has never evolved linearly, but I think the path of colective evolution inevitably leads to the same place.
I see America as slightly different, in that it was a reaction from the collectivism (existing State structures) and in its self, a new structure founded on Individualism. It proved to be more resilient and efficient and effective than the existing colonial State structures at the time. (Ultimately evolving into the exact structure early pioneers originally sort to escape)
I think there are memes that drive the natural evolution of Collectivism and ultimately the State. I suppose that if we change the meme at the core we can evolve to a state of cooperative Individualism.