There is a simple problem with Socialism which Maggie Thatcher pointed out some 30+ years ago. "Eventually you run out of other people's money." Socialism attempts to redistribute existing wealth in order to create equal outcomes and by logical operation deters the creation of new wealth because it lacks incentives. While capitalism lets the chips fall as they may as to distribution, it encourages the creation of new wealth. Without new wealth your society eats itself and stagnates into poverty. It really is that simple. Even Keynes understood these principals.