I don't want to get involved in a long debate here, just want to throw in my 2 cents.

In my opinion, Socialism will never work because a centralized government is an incredibly bad way to run a business. The organizational approach does not reward performance which means it's very inefficient.

Capitalism is oriented for efficiencies and therefore can execute and get things done, can not only create new inventions but as importantly, commercialize them and bring them to market where they can actually help people.

I'm also not saying capitalism is perfect, or that there aren't plenty of crooks in it. Lots of problems.

But, in the end I believe socialism is an supreme failure. No rewards for risks or success - socialism promotes mediocrity and laziness.