Is a free capitalist economy really "uber-efficient", from a human point of view?

Proponents of no or limited government intervention in the free market process say that government can only make it less efficient, with essentially no real benefits to society. But the reason for this is that the free market is the most adaptive system of providing for consumer demands that we know of. But consumer demands are skewed sharply in favor of the wealthy, whereas the poor are left in poverty, and the distribution of income is flawed to begin with, since the rich capitalists receive more income than they reasonably worked for, the working class are exploited, making less than they deserve, and the unintentionally unemployed are simply left out of the equation altogether, not even given the chance to take part in the system. My point being that, from a human, moral standpoint, if this system gears production towards that of luxury goods for the rich, and fails to allocate enough goods to the working poor, which is clearly not a goal of society as a whole, wouldn't this be an inefficient allocation of society's resources? Wouldn't a reasonable redistribution of income be necessary, at least just enough to provide a lower limit to the livings standards of the working class?