Once a society reaches a certain level of prosperity and people have some disposable income, it’s better to have a system that allows people to choose to do what they want with that income. Socialism fails at that point.

Just to be clear capitalism and markets aren’t equivocal. Market socialism is a thing.

Socialism is a really big umbrella term… similar to “democracy” there are a bunch of different ways to actually apply it. State socialism is only one scheme for it.