[galdauts]

I'd like to add that there are different flavours of both capitalism and socialism. The kind of disaster capitalism practiced in Russia and other former Soviet Union countries in the 90s certainly didn't lead to an improvement of living standards for quite a long time, if even. China also presents a case of state capitalism where companies are strictly controlled by the government as evidenced by the recent set of regulations published a few weeks ago and many companies are owned by the children of party members.