Personally I never understood the Capitalist vs Socialist debate, both systems will have the same inherent flaw that will cause neither to work within their idealist parameters. That flaw is human greed and corruption. When those empowered to regulate the system are more concerned with ways in which to manipulate the system for personal gain is it really going to matter which system we have?
Capitalist system - Governing powers grant favors to businesses/wealthy groups in return for monetary/position gain.
Socialist system - Governing powers grant favors to government powers/wealthy groups for monetary/position gain.
While the people at the bottom suffer. We are simply shifting where persons can best exploit the system, the private sector or the public sector.