Socialism is consolidated resource management with full public control. (That last part is extremely important otherwise we end up w/ Stalin’s Russia, China, or Venezuela.) It eliminates waste & inefficiency due to multiple businesses hoarding extra resources so that both can survive. I don’t see how socialism ISN’T the solution, tbh.
However, a couple middle steps can be performed under the existing capitalist structures.
- Fully non-profit businesses
- Democratically-owned & operated businesses
The first prevents excess hoarding excluding what’s necessary to allow the business to survive, while the 2nd makes for a socialized business within a capitalized industry. The first is self-explanatory, but I want to expand on the 2nd. Essentially, even entry-level workers have as much a say in all business decisions (where their products are sold, what the product box looks like, where & how to advertise, etc.) as their bosses. Even promoting a new boss becomes a democratic process. The peers select their bosses, rather than their bosses select their peers. It gives everyone the chance to learn how things operate, and the CEO position essentially becomes useless, allowing the money to be used for more meaningful job positions.
Neither will get rid of the inefficiency that I mentioned at the start. Only a fully-socialized industry can do that. However, they’re decent stepping stones until such time that we can eliminate capitalism altogether.