What you are describing isn't 'socialism' but mismanagement and greed. Unfettered anything is usually problematic. As always finding a balance that best serves the interests of both should be the goal. Can you provide me an example of unfettered regulation that leads to the consequence you outline in "uncountable lives and livelihoods for poor people?". It isn't clear to me what you are trying to say here and I'm looking for clarity. Are you suggesting that regulations are a the result of socialism?
Socialism isn't the ying to the yang of capitalism.
I work in healthcare and I can give you many ideas of why healthcare costs are 'insane', but it boils down primarily to the fact that the USA's healthcare system is based on a for-profit model that is siloed and fragmented. There are a fair number of non-profit entities in the business of healthcare coverage, but the biggest are for-profit companies that aren't about providing care, but maximizing share-holder value. The incentives of our system, held hostage by very effective lobbyists, is invested in preventing the country from developing an actual healthcare system that takes healthcare out of the realm of being linked to employers and profits. Venture capitalists buy up hospitals, doctor practices, vendors, and other more invisible entities that are necessary for the system to work and then milk them for profits. Again - for profit healthcare is an example of a business model that privatizes profits & socializes costs. It might not be 'illegal' but ask yourself if these business models are ethical.
If an industry's business model requires unchecked exploitation of workers and profound damage to the environment to be productive then I would suggest it isn't a very good industry to foster in the first place. Again - our resources are finite and we've done a dandy job of using them up as humans expand their reach across the planet. There is only so much clean air, water & soil on this planet. We've run low on 'next horizons' to exploit.
How many people are homeless b/c they can't afford housing b/c the profit incentive for building favors building luxury housing and not housing for people with modest wages. I live in a tourist community. There are plenty of houses - as vacation rentals. Local people who make lower middle class wages can't begin to find housing they can afford in this town. So all winter these houses are empty waiting for next season. People are making investments, but not ones that improve the community at large. It's a choice. With predictable consequences.
I wouldn't say capitalism sucks, but it does need to be managed so that it doesn't become a toxic force.
