I hate to break it to you, socialists, but your system doesn't work. It requires too much government oversight to handle, and on top of that, it's morally unfair. In capitalism, you get more money the more work and the better quality work you do. Socialism takes that system away, and replaces it with forcing hard workers to give money to people who aren't putting in as much work. Don't get me wrong, capitalism isn't perfect, but it's the best and fairest economic system we've had to date.
Don't get me wrong, socialism is superior, but only if it was possible to make a successful government using it. True Socialism is impossible, but if someone actually made a government with a successful socialist government, it would be an Utopia. You have to remember that we would need to get rid of all monetary values and make everyone dependent on everyone else. Not many people would support that. Some people would not work, so everyone who does work would have to support a lazy person who doesn't contribute to society.
Although not much of a politician I believe capitalism is failing. We can see that with the economic conditions today and should have learnt from the tragedy of the Depression. Communism brought on by revolutions has never been successful but if society had more planning and time to adapt I believe socialism could work. I think the ideal structure would be like a tribal existence, not necessarily primitive but small, mostly self-sufficient communities which share resources and have little difference between the wealth of their members. Money never made anyone truly happy.
It is not easy to say which is better. Both have been subject to corruption and greed from within. It does not seem as if capitalism is inherently better, though. Self aggrandizement by leaders is present in each of the systems. Until we have fairness in either system, neither will be good for its citizens.
Truth be told, I'm not sure one system is "superior" to another. They both have their strong point and pitfalls. We currently exist in a socialist society driven by capitalism. We are social animals by nature, and have traditionally done well in some sort of hierarchy. Pure capitalism leaves you at the mercy of those with the most money always getting their way. Pure socialism leaves you at the mercy of those with the most power always getting their way. A strong mix of the two i believe is an ideal society. The reason though that socialism is the slight favorite is because capitalism can exist in a socialist society, but socialism has a hard time existing at all in a capitalist society. This is what splits the decision for me, to throw a 5-4 supreme court style decision in the direction of socialism.