Compared to the USA - yes, compared to the USSR - no. France is largely capitalist economy with a lot of socialist policies. As long as the engine of the capitalist economy (private ownership, private initiative, private capital, substantial competition, etc.) is intact, it can bear a lot of socialist policies without breaking down (even at the cost of some slowdowns and inefficiencies). Once you break that, there's pretty much no chance.
> Aren't you talking about oligarchies rather than socialist regimes?
No, unless you choose to redefine what has been always known as socialism as "oligarchy" and what has been always known as capitalist economy with substantial government intrusions as "socialism". This would make conversation very awkward, as any non-traditional term usage tends to do, but will not change anything of the substance. USSR economy and French economy (and both societies of course) were different in principle, not in degree, and you can not ignore that while staying in the realm of reality and outside of fairy-land economics.
> The fact that some oligarchies were born under the pretense of socialism doesn't mean socialism was the cause.
USSR was one of the largest and most complete and consistent implementations of socialism ever attempted. If they didn't do it right, on your opinion, then nobody could do it right, ever.