@ErikUden we had this in Romania before 1989. Means of production were owned by "the people". Everyone had a job. By the end of 89, we were afraid and hungry. Turns out that you still need leaders even in socialism, and those leaders end up identifying themselves as "the people". So you replace many CEOs with a few dictators that create a secret police to keep people in line.

I've lived through that type of socialism. You don't want that. Regulated capitalism works (min wage, univ healthcare)