The definition of capitalism is, an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. The idea of capitalism is all well and good. I mean it provides freedom to private businesses, which really is the point of democracy, freedom to the people. Nobody wants the government to be in there business goofing with stuff and telling them what to do. We fought a war specifically to  end the control of government in business, yes referring to the Revolutionary War. However, capitalism allows the rich to get richer while making the poor poorer. When companies are allowed to outsource production to foreign countries while raising prices in their own counties it seems wrong. Capitalism allows companies to set ridiculous prices for goods. A fine example of this is cars, for some reason we are forced to pay tens of thousands of dollars for cars that are large chunks of plastic. Capitalism is the reason a man like Steve Jobs was allowed to back door his partners out of his company while jacking the prices of his products up so that people who wanted his product were required to pay out for his product. Despite all of this capitalism sometimes works because when companies are allowed to control themselves they can set their own prices. This allows for a competitive market, when some companies are jacking the prices of products up other companies can set lower prices to compete and drive prices down.
Socialism could be a good idea, government controlling the way businesses work. This doesn't sound right to most people. After all the definition of socialism is  a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. This simply means everyone in business is the same with the same profits and the same pay outs. However this means when certain parts start to fail all parts would begin failing. Also I do not believe the government should have control in any part of our lives. We are a free people that shouldn't be told how to live our lives based on what a government says.
It all boils down to greed. Capitalism would work if people weren't greedy. The reason capitalism gets a bad name is that the greedy do whatever it takes to make a profit because no one can tell them not to. Socialism is a bad idea because it takes away peoples freedoms. If a middle could be found where the greedy weren't able to take advantage of the system and the government weren't controlling business it would be almost perfect. However, something like this could not happen so in my opinion capitalism is better because I despise to much government control.