Disproving the Claim That Socialism Works Better Than Capitalism

I've found that government regulations give corporations and the 1% an artificial advantage by making it impossible for most entrepreneurs and small business owners to succeed in business independently. If most federal and state regulations were removed (with the two key types of regulations being antitrust and environmental regulations, enforced reasonably and conscientiously), the obstacles to widespread independent business ownership will be largely removed, thus leveling the playing field and allowing capitalism to function properly. The reason why capitalism doesn't work isn't so much because it's inherently bad, but because most strains of capitalism are dysfunctional.

There are quite a few countries (especially Nordic countries) who's economies are primarily private sector, and they enjoy some of the highest socio-economic equality, democratic participation, and HDI/quality of life rankings in the world. The greatest example of this is Iceland. If the U.S. followed in Iceland's footsteps, Capitalism would work quite well, better in fact than every implementation of public-sector based economy to date. The argument for a socialist economy is on this basis alone null and void as proven by real world metrics.