You are correct mam from the western world perspective. It isn't whether capitalism is better or socialism as an absolute economic reform, but the same has worked to uplift many other countries, In India, it is only when we shifted from being overly socialist to opening up the market to capitalism that we saw some progress in GDP's. GDP may not be a huge factor for everyone there because when US has a per capita of more than 70.000 $, In India it is just about 2000$. One reason being our population of 1.4 billion and being colonized and plundered for so long. None of the 'isms' are perfect, but currently the 'capitalism' that you are dissing, works better for us. Just a different point of view.