Communism doesn’t take into account that people are selfish, and will not work hard unless there is some incentive to win something. (Very true for men, not as true for women, though.)
Capitalism doesn’t take into account that some people are ruthlessly selfish, and will cheat and game the system, allowing for very short term gain for one, which to lead to long term dire losses for millions.
Communism doesn’t motivate the individual in the short run, which is why it could never get off the ground. Capitalism destroys the masses and the planet in the long run, which is what we are facing now.
Socialism tries to be the middle ground, the balance, between the selfish and the selfless, but it will only work in very, very carefully balanced circumstances. Maybe AI could help with this. I think we would have to study how socialism works well, and why- to figure out how to 2.0 THAT…
But, a new system would also need to consider how NOT to destroy the f*cking planet. That was never accounted for in either socialism, capitalism or communism, and it has become a problem due to all three systems.
Neither did any of these systems account for the rise of IT which has clearly touched and transformed all industry.
All the economic systems are very, very old for our time. We need something entirely different.