This is not only happening in your country... It is everywhere. Money goes to money. To make money, you need money. To save money, you need money to buy the things that are going to save you money.
It is not capitalism, or communism or whatever that failed. It is human greed by that 1% that gathered all the wealth for no fucking reason.
There are literally 10 people out of the whole planet that can save humanity, build hospitals, universities, etc, and maintain these for 1M lifetimes. Instead one of them sent his car to orbit earth as a "because I can" joke... Even if those 10 people used 90% of their money to actually do something meaningful they would still have enough to live like kings for hundreds of years...
And yes, SOME of them worked to have what they have, or apparently had the brain to keep what was given to them, and of course it's their money and can do whatever they want with it, however there is no excuse, no fucking excuse to fuck the rest 99% of the people to get more money that they can't possibly spent in 100 lifetimes.