Ideals of freedom since the 17th century

How has capitalism and freedom, born from the Enlightenment period progressed since the 17th century in America and the rest of the world?  We have seen the extremes; such as the ideals of Karl Marx and Andrew Carnegie.  Is there a coined term of government that best describes where we are now?  Are we where we should be, and if not, where are we going wrong? 

I guess the ability for our government to ratify amendments is beneficial because we do not have to abolish our entire system every time citizen's needs change.