Socialism is simply a philosophy that puts people before money, it has nothing to do with dictatorships or authoritarianism which this is.
That is a platitude that doesn't mean anything. Abolishing a pricing mechanism doesn't put people ahead - it destroys resources. Capitalism has done more for the people in the last 300 years than any other system in the last 30,000.
But in absolute terms it was very, very poor compared to today.
Communications? Medicine? Nutrition? Science? Housing? Civil rights? Arts? Life span?
In fact, corporations are actually creations of government. Corporations would not exist were it not for laws defining certain times of companies with limited liability for owners.