The US market is far from the invisible hand. There is a massive hand with a club attached called the Federal Reserve, which has artificially held down interest rates resulting in a major manipulation of the housing market.
Additionally, there are numerous governmental restrictions on minimum square footage, sometimes onerous building codes, impact fees, and zoning restrictions to name a few.
Yes, there are many artificial constructs that prevent true free market, but I still do not believe that capital accumulation by capital overs is not an property of this idealistic system. Do You have any real example of invisible hand working (by which I mean not ending with the top dogs holding all the bones) ?
You acknowledge the imperfection of the private sector, including wasteful spending. Now imagine that except with the power to waste even more money by sending an IRS agent to take your money at gunpoint and without being constrained by (at least if 'turtledove' word to be take) a ' profit motive'.
Profit motive is so primitive and so one dimensional constrained and yet it somehow mesmerized so many thinkers that we build build "golden idols" in praise of it (https://en.wikipedia.org/wiki/Charging_Bull).
I do not believe that this is it - there have to be other better constrains combinations. It just that there is so much vested interest in current system that no one will dare to contest it enough to really try something different.
The beautiful thing about art is you can interpret it however you want. You interpret it as a "golden idol" of the profit motive. I could interpret it as an angry bull sick of the ways of capitalism; a bull that wants to inspire free health care for all.
I marely tried to defend our ability (as humans) to create more complex systems that works. I do not believe that free makrets are the end game. The obvious inefficiency of public sector does not make capitalism the ultimate answer.
Additionally, there are numerous governmental restrictions on minimum square footage, sometimes onerous building codes, impact fees, and zoning restrictions to name a few.