The industrial revolution was in the 18th and 19th century. There were no socialist countries. Russia only became communist 80-100 after the end of the industrial revolution. So no, a capitalistic, cutthroat american system out performed an incompetent monarchical system. In some senses it was just 2 different version of oligarchy competing.
I'm not talking about the specific Industrial Revolution. I am saying that when Russia was becoming an industrialized country. That happened under Stalin. Industrialization didn't have to happen during the 18th and 19th centuries, there are plenty of agrarian countries still in existence.
It also saw almost unparalleled suffering for workers. The rich got massively richer while the poor struggled to survive.
And the unions (not the toxic ones like UAW of today) came in and negotiated better wages and working conditions. Individuals, not the government, worked it out. That is precisely how it should work. Different companies operate in different ways and broad governmental regulations that are supposed to apply to entire industries are bound to cause inefficiencies.
Why would you think that?
Well, for one, I can't think of one country with socialism has ever had a good outcome, not even during their industrialization.
Laissez Fairre capitalism started being practiced in the mid-18th century, right when you said the Industrial Revolution started. Honestly, it arguably caused the Industrial Revolution. Are you going to say that incentives for individual prosperity and limited governmental barriers to entry didn't create this era of prosperity?
Perhaps we should tax the crap out of anyone successful and regulate so much that compliance costs can only be afforded by big firms? And you wonder why more small business owners vote Republican than Democrat.......
And even then, no one is advocating for Socialism in america. They are advocating for reasonable regulation and limits on the abuse and greed of capitalism. That isn't socialism.
It could have been someone else, but aren't you the guy that said taxation is "socialism"? But somehow giving government all control over the medical insurance sector is somehow not socialism?
Not sure I have heard many "reasonable regulations" either.