We have some Socialism already.
The NHS, the education services, the police, etc etc. Wherever the needs of the many are met by all, that is Socialism.
Also, when bankers, led by (Sir) Fred The Shred Godwin, former CEO of RBS run into trouble through their own greed, then the many, ( without being asked,) fork out billions to pay for their mistakes and criminality. (Nobody ever prosecuted.), then thT is Socialism. The many helping the few, ( in this case who remain basking in their millions!)
But Capitalism is alive and well. The poverty ridden working class or those too unfortunate to find a job, suffer the full brunt of market forces.
In my opinion.
No dinner parties for them! Just food banks!