Why under the great system of capitalism is my boss striping me of my rights at work?

From last month we no longer get overtime rates at work yet we are still expected to do at least 2 hours overtime a day. Why under the amazing system that capitalism is does this happen? I thought capitalism was supposed to bring prosperity to hard workers. I work 50 hours a week and Im worse off than I was this time 6 months ago. Ive been trying to find a new job but its a bit hard at the moment. Why is capitalism such a failure?