Worth what you pay for, since this is not a history lesson of any sort.
Communism, which is one form of socialism, and fascism, which is the other form of socialism, are theft of wealth. They can only be implemented by dictatorships or oligarchies. China uses oligarchy. The USSR used oligarchies. Russia today is more capitalist, but still has a lot of socialism going on.
WRONG. Fascism is theft of industry by operation, not by ownership. The government tells the companies what they can make, how much they can sell it for, when they can sell it, who they can sell to, how much to pay their workers, where to buy their raw materials from, etc. Of course, the owners still own the company. They just don't get any say how it's run.
Communism is where the government owns the industry outright. They ARE the owners.
Both forms of socialism bring misery. It is theft of wealth. Only capitalism can create wealth.
If you believe that. I bet you say, 'Kum Ba Ya" a lot too.
Norway is largely capitalist. It is a monarchy, but so far the government hasn't been seriously attempting to steal wealth and give it to unproductive members of society. Thus, despite the monarchy, Norway is prospering. Norway is not a democracy.
There are currently no democracies anywhere in the world.