I basically view socialism as a coming together of a community or group of like-minded people to acheive something for the which will benefit the group or their surroundings.
Many of the questions posed by JediSage can also be applied to capitalism - corrupted Western politicians with ties to private companies giving them lucrative government contracts in return for a place on the director's board after their political lives are over - at the expense of the people they are elected to help...
Each system has it's corruption and weaknesses - people are dying in Iraq, Afghanistan, Somalia and many other places in the world because of the greed and power of Western governemnts and an unwillingness to get involved because it may be unpopular - and they may lose their power by being voted out by the electorate. On the other scale we have governments getting too involved in other countries affairs - and give reasons as stability and fuel as reasons why they should take matters into their own hands.
Besides, in a capitalist world it seems as long as people have a nice house, car, holidays, a big tv and are subjected to the mindnumbing blandness that appears on the majority of it, nearly everyone under capitialism are content - many of which have a 'so what' attitiude to the preventable and addressable horrific events that take place around the world.
I have to say it is communism - not socialism that is enforced in places such as China by the Government. The people do not decide for themselves what is to be done for their betterment - it is a regime that anwers to no-one (which could also be corrupt) - and that is NOT socialism.
Socialism is, and can be, democratic - if it was so I'm confident they wouldn't vote to exile thousands of people many years to Siberia for not agreeing with others, many more missing and liked in China.
(have to stop here for now - time for an anadin)