Overpopulation is in the eye of the beholder. 72 is enough, we don't NEED more people! Side effect of overpopulation capitalism: need more people on the same space ? You need apartment, which requires capital, which means America and there 1%/90% ratio ... Do not want!
Are you suggesting that Europe is not capitalist already? I think it is and despite this we have still managed to maintain greater equality (as measured by Gini coefficients after taxes and transfers) than the United States by having more state intervention. Why would immigration change that?
I'm not saying that immigration is just going to turn out to be a positive effect without any action. Measures have to be taken to account for it, but I think investing large amounts of money in trying to prevent it is the wrong approach, because it a) does not work b) is inhumane, and c) does not solve the actual problem (people being forced to migrate).