Capitalism ignores external costs, such as pollution and climate change. This makes goods cheaper in the short run. But over time, it depletes natural resources and lowers the quality of life in the affected areas.
Competition is encouraged under capitalism as it is believed that it increases efficiency. Moreover, the government is expected to intervene only to maintain a level-playing field. Otherwise, it has limited control.
However, capitalism doesn't provide for those who lack competitive skills and it does not provide for equality of opportunity, as the system fundamentally relies on the motto of 'survival of the fittest'.