Socialism does not lift people out of poverty anywhere near as good as capitalism. Socialism promises things that it cannot possibly deliver on over time. Once the socialist politician realizes the inability to deliver, social unrest & two other things usually develop. First, a scapegoat must be found to blame the inability, and two a state security system needs to be erected to keep the socialists in office. The Jews were scapegoats in the last century and we saw security systems like the SS secret police and the KGB keep the socialists in power.
The basic socialist cycle goes something like this:
1. Convince the populace that the government can solve their problems of inequality with cradle to grave govt. programs
2. Get the population dependent on govt. programs
3. Take away their guns
4. Increase taxes
5. Blame the scapegoat for the inability to deliver on promises
6. Have the national police round up the protesters
Once citizens are weaned on this cradle-to-grave concept and are no longer self-reliant, they become wards of the state and will not accept any reduction of services. The government subsequently has no option but to reduce services, and as popular resistance develops, State repression begins. This is the socialist cycle.
The capitalist must perform to market standards. Competition will put him out of business if he provides an inferior product or service. He is furthermore constrained by his customers, stockholders, board of directors, lending institutions, as well as numerous laws, and, if all else fails, product liability statutes.