You don’t have to look far beyond the obvious examples: the USSR and lets not forget, the Nazi’s – National Socialists.
Socialism results in the politicians at the top living in luxury while the majority of the people are in poverty. Or worse. Why? Because working out how much should go to whom is not a problem that is solvable. The only way of working out a fair price for a fair job is to use market forces, i.e. capitalism.
There are some major parts of capitalism that I don’t like however, allow markets total control, with access to giving politicians back handers, makes it no better than socialism.
So what choice is there: left politicians stealing the money and luxury for themselves, leaving everybody else poor, or right politicians taking back handers from big business and generally fiddling tax, stealing money for themselves leaving everybody else poorish? The only good thing to come out of any of this is if it isn’t far left, you can get a fair price for any work you actually do.
We need a type of socialism that recognises that people are different and should be rewarded for the skills they have and the value they add to the community. Not as per now where the top 1% have as much cash as 70% of the population.
Nobody has appeared to try that – as yet.