Whenever I need to explain the difference between socialism and capitalism, I start by noting that socialism technically is different from Obama-style big-government redistributionism and cronyism.
Socialism involves something more pervasive, involving government ownership of the means of production (which, if you read this postscript, is why Jeremy Corbyn in the United Kingdom is far more radical than previous Labour Party leaders).
It also means eviscerating the competitive price system as a means of determining value and allocating resources, relying instead on politicians and bureaucrats
to arbitrarily wield that power (some American politicians favor this latter approach in certain circumstances).
Needless to say, socialism has an unmatched track record of failure. It was such a disaster than only a few supposedly high-ranked academics (see this postscript) thought it worked.
But what about high-ranked communists who grew up under socialism. Did they think it worked?
The Houston Chronicle
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Utopia, you are standing in it! 
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