Neither system is perfect. Pure capitalism can lead to inequality and under-provided public services, while pure socialism can stifle innovation and create inefficiency. The best-performing countries today typically combine elements of both.
So as anything in life too much of one thing can be bad. It would be nice for everyone to receive free healthcare and higher education in US. I often watch various global news networks. It is odd to see US, Canada, UK all struggling with same issues economically.
UK has 28 million people on assistance out of work. It also has 28 million people employed. So half the UK is paying to support the other half. That is wild to think about.
Canada has a housing crisis currently.