There are good things about socialism, if most of Western Europe is an example. They combine government control of some services with a market economy and it works.
Socialism is a euphemism for communism and it has been condemned by the Church and Fatima. If Socialism has anything good, it is taken from Catholicism and is only a temporary compromise, a slow boiling of the people.
The only reason "socialism" worked in Western Europe was because it is a homogenous society, everyone is the same. Place mixed cultures in Germany (the best example of "socialism") and it all collapses. Western European Socialism's scaffolding was Catholicism and the homogeneity of the populations in each country. With the introduction of peoples of other cultures and the disappearance of Catholicism, Western Europe's experiment in socialism will crumble quickly into totalitarian communism and very few will protest because of the slow boiling of the last 70 years.
Our Lady of Fatima told Lucia that the whole world will become communist, we are witnessing the fulfillment of the prophecy as we speak.