Capitalism favors innovation at the cost of humanity, and socialism favors humanity at the cost of innovation.
Although I am definitely left-wing, I can clearly see that the main reason why the US stays the worlds top super power is because we have such high levels of innovation. Capitalism enables this type of innovation by offering the best possible incentive, massive wealth gains. Our military is so advanced that it laps the field in terms of technological advancements. We have the biggest stick; therefore, we mostly get to make the rules of the world.
However, it accomplishes this at a human cost. Low wages, poor working conditions, class stratification, high rates of imprisonment.
Socialism is the opposite of capitalism. It favors humanity at the cost of innovation. However, by having such low levels of innovation it cripples its ability create new technology and export goods in the global market. It a also hampers its military might which is the crux of how nations define power in our modern world.
I am prepared to let go of position as the worlds top super power in order to obtain more humane treatment of citizens. I do not believe is enslaving myself to a system that treats me badly just so the system as a whole remains top dog.
That is how I feel, but what about you?