We'd be a step or two up, but we'd lose a lot of ground. The question applies to more than health. Consider human societies. Capitalism may be fine if you're middle class or wealthy, but it's not so great for the poor. Globally, granaries may be overflowing in some places, yet famine persists in others due to economics.
Food is thrown out while people on the same street go hungry.
This is fundamentally wrong, yet no effort seems to be expended to fix it.