The problem for me with the way we do things currently, is that the criteria the model is optimising (arguably economic growth) for don't seem to completely describe what most people would want the economy to do (improve living standards, individual freedom, 'happiness')...
A certain variety of early Marxism said more or less: yes, we agree with all that. Except for one thing: once industrial capitalism has centralized the economy, with a few huge trusts running things as a smoothly oiled production machine, the shareholders are now more or less superfluous. So, we'll just knock 'em off and distribute the proceeds of this machine among all the workers equally. The industrial capitalists only disagreed with the idea of socialist central planning in that they didn't want to distribute the proceeds of central planning, not in believing that decentralized planning was better. Many did agree that some kind of redistribution was necessary so that all society benefitted, but they preferred redistribution managed by the monopoly capitalists themselves in the form of philanthropy, which they felt they would be able to thoughtfully manage (Andrew Carnegie's The Gospel of Wealth is representative of this view).