Socialism is not the key, here is why:
1. There is no incentive for there to be any entrepreneurship or incentive to want to get better and higher-paying jobs if you are only going to receive a marginally better salary and get the majority of the rest of it taxed.
2. Technological and economic progress is stagnated, France is currently 6-8th largest GDP in the world (Over the past century), clocking in at roughly $2 Trillion in 2015, yet the IMF projects it falling off further to the #10 spot by 2020. The french have also made only a few technological innovations that are useful for the world, many "innovations" during the last 60 years have been beauty/fashion related or merely an improvement on an existing idea.
3. Back to point #1, socialism rewards mediocrity. Everyone gets a pat-on-the-back and gets money (In some form) for not being exceptional or striving ahead of everyone else. It is like kindergarten, socialism is giving everyone a participation award, and those who place first get the same trophy.
4. Capitalism doesn't tell you what to do. The richest people in the world don't force you to buy anything, do anything, or make anything. Everyone is free to their own interests, and can achieve whatever they want to with work and actually trying to strive ahead.
5. Free market, or, at least, a more open market. Resources are far more efficiently used in a free market, as the people can adapt to the changing needs and wants of the population. Centrally planned economies (A product of extreme socialism) are very inefficient, as the Soviet Union shows.
6. The goal of socialism is to create a utopia, but every personal has a different perception and thus it can never really be achieved. The person who must determine what this utopia is would be the state, with a theoretical consensus. This infringes on other people's capacity to fulfil their own interests, and if the state decides that video games are an illegal source of entertainment because they hurt productivity, that wrecks someone else's view of utopia.
Now for all the hate I'm giving socialism, it does have a place in the right situation.
For example, if/when AI takes over most jobs, basic incomes distributed by the state will be a necessity because we cannot have >4 billion people all working white-collar jobs, or, at the very least, there is very little infrastructure to support that for right now.
As the current world economy goes, however, socialism is not the best system. More things have to change for it to be the best system.
It is agreed that this socialism has nothing to do with it. We must know that democracy must be false. Democracy is only a contradiction of the bourgeoisie.