Which is the problem.
Socialism is the economic system where the government controls business through law or regulation. It limits or controls competition. It limits the pay. It limits productivity. Overall, it regulates the complete business cycle.
It also limits private property rights & personal freedom.
Socialism, like progressivism (is there a fundamental difference?) , has removed the individual from the center of the system & placed "common good" above all. If it does not benefit the collective it may be unlawful.
Communism is the step above socialism where the state, or the collective, is the common owner. There is no private property nor individual rights. All goods & services are produced for all. If one has access, all must have equal & unfettered access.
Capitalism allows the private individual, or agreed-to collective of individuals (corporation) full control of all aspects of production or services. From purchase of goods for means of production to final delivery, the individual controlos his property & the means to regulate it. Only upon final delivery, for a pre-arranged obligation, does the original owner give up rights to his product or services.