It relies too heavily on faith and confidence in the party machinery to bring social and economic justice and a fair and equitable distribution of economic largesse. Socialists do not believe in creating wealth but in sharing and distributing it. They believe the natural resources of the world should be shared and equally enjoyed by the peoples of the world. They ignore the human input that makes natural resources valuable. It is difficult to convince them that natural resources are of little value and it is human ingenuity that gives value and wealth to natural resources.
Capitalism succeeds, because it is consistent with human passion and character.
I remember well my brief socialist days when I revered the tenets of socialism, influenced by my political readings and lack of practical experience. I have long discarded socialism as a rational and practical doctrine, as it cannot work. Socialists believe that a few have too much while others have too little. Their mission is to find the right formula to ensure that in any economic activity, everyone shares fairly and reasonably. Unfortunately, wealth is rarely created fairly and reasonably.