One, socialism doesn't always fail. It's succeeding all over the world as we speak. It's even succeeding in the US, or have you not heard of Social Security? Since the wealthiest countries in the world are all hugely socialist, your notion that there is no means by which they create new wealth is obviously false. Third, socialism's goal, which if you actually new anything about it you'd know, is to create wealth for the many, particularly those who labor to create it, not wealth for a few, a leisure class who by in large never labor to create it.