This is true across the developed world. Liberalism is fervently pro-capital, and results in a political class who are captured by the wealthiest; who operate on behalf of capital instead of the people, and run the country for-profit, like a business.

All developed economies have been backsliding in quality of life and standard of living for the last 30-60 years in a race to the bottom. The rich have gotten richer while the poor have gotten poorer. The US is just the furthest along the downward spiral, and an example of what will happen everywhere without significant change and resistance.