First of all, a dictionary definition of socialism:
so·cial·ism ( P ) Pronunciation Key (ssh-lzm)
n.
Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
The stage in Marxist-Leninist theory intermediate between capitalism and communism, in which collective ownership of the economy under the dictatorship of the proletariat has not yet been successfully achieved.
Correct me if I'm wrong, but a socialist economy would forbid private ownership of capital and resources and instead they would be owned exclusively by the 'collective'. That's all well and good but how will the Government seize all private property? How do you think people will react when their homes, businesses and properties are taken off them?
Also, a Socialist society would have no government I am lead to believe. So how do we get people to comply with collective ownership? If there is no government, what is to stop me from starting a successful business and keeping the profits for myself? If a police force is necessary to implement collective law - who is to administer and control it?
If businesses and individuals are forced to sacrifice their profits and property to the collective, won't a VERY LARGE black market spring up for those who don't want to be controlled by the state? I said 'very large' as all profits would have to be declared and then distributed 'fairly' amongst the workers, so you will have a lot of people trading illigitemately and not recording their proper earnings to escape the auspices of the collective.
That's just my theory I am interested to see how these questions may be answered if any of you have the time.
Nihilism: a philosophical position of the view that the world, and especially human existence, is without meaning, purpose, comprehensible truth, or essential value.