No it isn't, capitalism breeds creativity unlike other systems that actually wane it. Capitalism is the only system that encourages creativity actively and it's the sole reason we have all the good blizz things. What kills creativity is simply bad management.
You're thinking of Mercantilism, not Capitalism.
The former allows you to invent new means and services, trade ideas and products, while allowing you to both invest in the people creating and producing such, and protecting your intellectual property from competitors.
The latter allows you to utilise existing means and services, trade ideas and products, while allowing you to both discard the people creating and producing such, and selling your intellectual property to the highest bidder, through mergers and acquisitions with competitors.
Capitalism survived it's early years through the use of very low cost native-born labour and imported slave labour. It survives on life support in its geriatric years, through teenagers working for minimum wage, and low-cost illegal immigrant labour.
The upcoming economic crash (maybe 2022-24ish) will shake up things to the point that people who were firmly against left wing economic policies, will be demanding them. I'm as right wing as they come, and this is quite easy to see from my point of view.