I agree with all of the above on capitalism. But history shows us that socialism inevitably:
a) leads to corruption on all levels of society, due to the fact that the government is responsible for providing most services and requires civil servants to provide those services and resources — which are embezzled on a massive scale.
b) increases taxes. Someone has to cover universal healthcare, broad public transportation, education, but also government enterprises — which are definitely a thing in socialism. Basically, your taxes (also) go towards people having jobs in certain critical sectors (like news media, telecom, and natural resource extraction— Rosneft in Russia is a good example). The problem is, the people managing these companies will probably be the same people who are managing their private counterparts now. Refer to a).
I won’t go into whether the economy will be centrally planned (I assume it won’t be, because that’s a HORRIBLE idea, since it’s based on supply-based not demand-based economics) or various other political nuances (who’s in charge of what, checks and balances).
Suffice it to say that neither socialism nor capitalism are the answer. We need a new paradigm wherein people try to live sustainably, the truth actually matters in journalism (because it doesn’t now — you subscribe to one or the other side, and that’s all you need to know), and people do not have so much power despite holding vast amounts of wealth, because wealth won’t matter as much anymore. Life should matter more — for everyone.