Socialism is inhumane because it is resistant to the timely renewal of humanity.
Socialism is alive and well in any country that fails to define and adhere to the operating principles of the freedom of freedom (a relativity theory) and a meritocracy of capitalism that depends on such freedom.
The point being that all economies today harbor vast amounts of socialism, defined by me as the overwhelming conformance to our similarities. But countries deploy different flavors of same, some socialism more oligarchically rather than government controlled.
Capitalism without the operating principles of a meritocracy, in violation of the most basic definition of freedom, is merely oligarchically controlled socialism, different and less transparent to the general public, but equally harmful nonetheless.
Socialism is wrong because it stifles the innovation we rely on to evolve. For socialism breeds very few outliers to challenge the religion of past (including socialism itself).
To end on an up-note, the outcome of our economy is not as feeble as we think, because the only thing we need to change is how we value our creative differences.