How much freedom do we have under capitalism? Myth or reality?

I used the following source on purpose as it is very hard on capitalism as an economic system. The perspective of this source is certainly from the left but is it fair? What are the best couple of arguments that are used against capitalism and what can you counter those arguments with? Surely, an economic system which has brought to us standard of living and longevity cannot be all that bad? Sort out for yourself what side you would fall on. Do we keep the system as is, or, do we replace it with something else? What ideas do you have and how will you support those ideas (citations) ? The video can be found here. If you want more on this topic, check out this short article here.