Socialism requires that the government has more resources and thus more power. Therefore socialist governments are more likely to become corrupted and mismanaged.
Communist/socialist countries tend to control the press, and hush up exposés of corruption, which makes it much worse.
http://www.washingtonsblog.com/2015/05/obama-has-sentenced-w...
But after living in a communist country for the last five years I can tell you for a fact it can get much worse.
Free Market Capitalism would be another one.