Socialism will always lead to a dictatorship and suffering for the people, it never fails. When will people learn? Capitalism is not perfect, but it's proven to be the best system developed thus far. I think its only downfall is excessive greed, which from time to time leads to big crashes. It's not enough to make a profit, some instances want more and more profit until something bursts at the seems and the whole construct comes crashing down. This is why there should be adequate regulation instead of this fantasy of unlimited growth, there is no such thing.
Nordic countries don't have anything close to actual socialism, they have a mixed economy that is basically capitalism with an emphasis on social safety netting. This is achieved mainly through relatively heavy taxation.