Socialism was a failed experiment. However, modern social democracies (which combine capitalism and social safety nets) are the best system we've got. Specially in Norway and Switzerland.
Discussion
I believe that socialism is more alive than ever, only masked by words like democracy.
You have the example of Spain and most of southern Europe.
You also have the drift of the US, which is gradually and inexorably embracing it.
Paying more than 50% in taxes, over-regulating, endless subsidies for companies, mountains of social assistance, etc., that's socialism, no matter how much they try to sell it as something else.