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Nope. Capitalism reigns supreme. It isnt perfect but its better than anything we have come up with so far. The reason for the mass unemployment in Europe is governments spending too much money on entitlements- they are spending money they dont have. Governments with balanced budgets and surpluses (like Australia, Brazil, Norway) are doing pretty well.
Capitalism reigns supreme in the garbage heap of outdated ideas. It's inherently flawed in that it gives the preponderance of power to the capitalist who is motivated to increase profits and drive wages down. Thus there is an upward flow of capital that results in a distortion of wealth distribution that erodes consumption capability that results in economic crashes. It's totally stupid.