Most countries start out capitalistic because they're sort of empty and there's lots or opportunity and work to do. But if they're successful, then they attract more and more people and sort of fill up and opportunity declines, and you start having to adjust.

Germany in the Wirtschaftswunder, after WWII, was also a quite economically-liberal place, but economies burn out, just like governments do.

Also, meritocracy eventually peters out, as more and more of the best stay at the top and the structure ossifies.

Usually need currency reform or a big war, to get restarted. Ukraine will be the new Wild West, I suppose. Like East Germany was and then Eastern Europe was. It's a cycle.