Capitalism and Socialism aren’t opposites, any more than “burgers” and “putting condiments on food” are opposites.
Sure, you can have your ruggedly individual hamburger with no more than a slab of meat in a hamburger bun. But most of us like hamburgers with something more. Maybe tomatoes and lettuce. Maybe mustard, mayo or ketchup. Maybe BBQ sauce or a house special with secret ingredients, that really brings out the flavour of the burger.
Socialism is just a flavour you can have with your capitalism, and it’s a flavour that makes capitalism much, much better. Businesses all do better when the roads are maintained, when laws prevent theft and violence, when you can hire educated employees, and when citizens are protected when they get sick.
Capitalism is the idea that you can own things, such as a store or factory, and hire other people to work for you so that your work and investment can pay off in more than just the hours you can work alone. It’s the foundation of entrepreneurship: you work harder and risk more, but in the hope of greater rewards. And it benefits enormously from a government that provides both physical and social infrastructure.
Socialism means less burden on new businesses, because basic needs like health care are guaranteed by the government. And that means people are more likely to start businesses, because not only does an entrepreneur not have to worry about providing that on top of startup business costs, but they also know that if their business fails, as most do, they won’t be on the street.
Knowing there’s a safety net means that people will try more daring things. They’ll be more innovative. That’s the whole reason that capitalism invented the corporation: so that you can start a business, lose money, and not be personally liable for every penny. Because being given some safety to take risks encourages entrepreneurship.
That’s the kind of country you want to live in: where citizens are educated and feel safe taking risks as entrepreneurs, or working for small businesses, because they know their country has their back.