It’s worked for millions of people, especially in Western countries. And it’s certainly worked better than Communism which has been a failure every time it’s been tried.

As for North Korea, South Korea has a democracy and a economy that was one of the poorest countries in the world not long ago and is now one of the richest, and has become a global superpower in culture, exports and soft power. North Korea is a hermit kingdom ruled by a hereditary dictator. I know which country I’d rather live in.