I think it would be helpful in discussing economic systems to stop using crude terms like "Socialism" and "Capitalism". The useful question is, on a case-by-case basis, what method of economic decision making works best.

In areas of life that involve necessarily shared goods and services, such as provision of safe drinking water, atmospheric pollution abatement, public transportation, health care, and public education, collective decision-making systems seem to work better in terms of benefiting more people than profit-making, competitive decision-making systems do.

In other areas of life that involve individually consumed goods and services that are subject to differences in personal aesthetics, competitive decision-making systems may benefit more people than collective decision-making systems do.

Controversies will remain in areas that involve overlap of shared goods and services with individual aesthetic preferences.