In Bullshit Jobs Graeber terms our current system as "managerial feudalism". It's not capitalism in the same way Adam Smith or Marx envisioned, we don't have firms brutally competing to generate the most value at the lowest cost. Instead we have a system of rent extraction largely done by a small number of powerful players. You don't need to be efficient to extract rent, so you end up with a court, or org chart in modern terms, of useless hangers on that mostly serve to demonstrate your wealth and power.