In response to the question, “What is wrong with socialism?”
Writing well over 2000 years ago, Aristotle answered Plato, whose Republic advocated socialism, thusly:
What is common to the greatest number gets the least amount of care. People pay most attention to what is their own: they care less for what is common; or, at any rate, they care for it only to the extent to which each is individually concerned. Even when there is no other cause for inattention, people are more prone to neglect their duty when they think that another attending to it . . .
The Republic advocated that women and children also be common property. What Aristotle wrote about sons applies to other things, as well:
[Under the plan of The Republic] each citizen will have a thousand sons; they will not be the sons of each citizen individually; any son whatever will be equally the son of any father whatever. The result will be that all will neglect all.
In other words, the word “son” loses its meaning when abused in this fashion. The same is true of the concept of property.
Aristotle is right. We love the particular, not the general. Good philosophies of government will recognize that and will thus operate on a human scale as much as possible. Socialism fails in that regard and thus loses all the non-coercive power of simple affection and care.