In my youth we had a society which contained large elements of socialism ....we were poor, but we never felt it to be "grinding poverty". We had self sufficiency, people repaired things themselves or sent them off to be repaired, people rode bicycles, helped their neighbours in what we would now call work sharing, but most importantly there was no huge wealth differentials between professional people and manual labourers...no one was rich, not the doctors, farmers, shopkeepers even the "aristocracy" who were crippled by "death taxes"
In times of extreme need people shared what they had, merchants wrote off food bills. My own family was left penniless and homeless by fire .....the little community rallied round, gave what they could and we survived ....I often worked free of charge to folks whom I knew to be in dire straights financially.

We need to learn well what Shimrod says capitalism is no longer sustainable.....we all have to get used to being rather a lot poorer and if we are not willing to accept that, then we must be made to accept it.

In saying that, we must make sure that everyone contributes and that their contributions are recognised.....Monolithic industrial socialism failed because it did not take into account humanity's desire to have a purpose and to be respected for fulfilling that purpose.