There are no truly socialist countries in the world, if you’re going by strict definitions. Neither are there any truly capitalist countries in the world. All countries have some regulations to protect the less fortunate, and all countries have some regulations to prevent the effects of runaway capitalism. There is a spectrum of regulation and a spectrum of social safety nets. “Socialist” usually just means “More socialistic than my country” and vice versa for “capitalist.” The only question is where you want your country to exist on these spectrums. Great answer at Quora.