How would you know, have you ever lived in a socialist society? I have and I can tell you first hand, capitalism is so much worse. The problem is that everyone around is capitalist, and yes, you can’t compete with that (tech development and things like that) or you can, but it’s really hard. There are way to mitigate these discrepencies though, it just takes a lot of effort.

Take a look at the Venus Project, you might like that as well.