I've always felt the argument between Socialism and Capitalism has been stupid. It's a case of moderation, and balance, where we need elements of both to succeed.
Consider pure Capitalism, in the late 1800's, with the railroad, steel, and oil industries to name a few. A few companies had monopolies over entire industries, and because there were no effective anti-trust laws, they dominated those for years.
Consider pure Socialism. The Soviet Union fell apart because the institution simply didn't work. I really don't think I need to say anymore about Socialism.
Now, consider the United States after WWII. We had a booming Capitalist society, the mass suburbinization of the country, and we had in place lots of socialist regulations and ideas. Our country flourished under this mix of ideology, and Western Europe followed in our footsteps, with varying levels of a mix between Socialism and Capitalism.
So where do you stand on this?