Socialism (at least economic socialism) verse capitalism is really just a command economy verse a market economy in the end. I think, historically, we can see which have done better. We just have to look at how, by and large, the western Europeans have abandoned economic socialism, or how the majority of socialist states have fared economically, especially if they haven’t adopted at least some market-based economic reforms (such as China) to make it work, at least sort of.