Socialists continue to rally for the cause of "community ownership" of goods and services. This ownership, formally called the command system, but
called socialism by the majority of people, relies on a national or global community all agreeing on what is publicly and privately owned (privately
owned items, or even property, are not at odds with socialism) and how it should all be managed and distributed.
However, there is a central "planner" for this economic system, and that planner is always government (if anyone says differently they are not
talking about socialism, and need to pick a different word). From Socialistaction.org
The chief means of production should be socialized, that is, taken out of the private hands of the capitalists and put under public ownership,
that is, government ownership.
This is how economists define socialism. A completely centrally planned economy, where a government owns and manages every aspect of transaction and
distribution. "Publicly owned" does not mean "communally owned". It means that the government, not individual (or groups of) citizens, owns the
means of production of goods and services.
...the economy should be planned to meet the needs of the people—in employment, education, nutrition, health care, housing,
transportation, leisure, and cultural development.
This is where socialism fails, and does it magnificently. Here's why:
Take a deck of 52 cards and shuffle them. There are a set number of possibilities that the order of cards can become. The number of possibilities is
expressed as 52! What that number represents is the following:
52 * 51 * 50 * 49 * 48 * 47 * 46 * 45 * 44 * 43 * 42 * 41 * 40 * 39 * 38 * 37 * 36 * 35 * 34 * 33 * 32 * 31 * 30 * 29 * 28 * 27 * 26 * 25 * 24 * 23 *
22 * 21 * 20 * 19 * 18 * 17 * 16 * 15 * 14 * 13 * 12 * 11 * 10 * 9 * 8 * 7 * 6 * 5 * 4 * 3 * 2 * 1
All of which equals 8.0658X10^67.
Now, imagine that the government had more than 52 things to manage at the same time...
This is why capitalism works. It is actually more "social" than socialism, as the community of business owners and consumers organically set prices,
distribute goods, and decide what is and isn't good for the community, nation, and world as a whole.
Socialism would be like one computer attempting to solve a complex equation. Capitalism would be a distributed network of computers attempting to
solve the same equation.
Capitalism is not perfect. But it's not perfect because people are not perfect. This is true of any system run by humans. But if allowed to grow and
exist by self-regulation, by consumers choosing what they want or don't want, and businesses supplying them with those goods and services regulated
only by the buying power of consumers, the market will drive itself fairly and equally far better than a market controlled by a central planner can
ever even hope to do.