The only true socialism that is left today is a traditional kibbutz.
The basic problem with our economic system is the denial that it is based on natural resources. Natural resources are the principle and if the economy is sustainable it must only take from the interest. The life sustaining natural system the world depends on is not the luxury that economists claim; it is the economy that is the luxury. Too many traditional economists are deemed "cornucopian economists' because they view the world's resources as being inexhaustible.
I heartfeltly think we are gonna hit a huge plateau in technology because of limited resources even if we have renewable energy we may run short on metals wood and silicone for computing we need to think with resource availability in mind or go back to the Stone Age