"The difference between capitalism and socialism is that capitalism is mans exploitation by man and socialism is just the other way around."
So it would seem. There is however a glaring difference. The capitalist is doing what he does for the purpose of generating a profit for himself and perhaps his shareholders while the socialist has no such desire. The socialist sees life a little differently and instead of trying to invest in property and activity which will increase the wealth, is more focused on re-distributing the wealth which the capitalist has created. It seems somehow unfair to the socialist that the businessman has been able through hard work and opportunity to amass wealth for himself. This is judged as being selfish in consideration of the fact that most people aren't so successful in accumulating wealth. The socialist therefore, taking his cue from Robin Hood, is ready and willing to even the score.
If individual property rights were totally withdrawn, worldwide, and placed under the authority of a central world government what would we have? Some benefits for sure! International borders could be eliminated. Currency exchange fee could be eliminated overnight. All wages equalized. Freedom baby! With all that wealth available for redistribution no one would have to work again! Well, not quite so fast...
Roofs still leak, people eat. They need transportation. In fact, all needs and appetites go on as before under our newly-formed One World Gov't. And so, very quickly conscriptions would be ordered forcing the able- bodied to mow the lawns, fix the roofs, farm the farms and haul the travelers to their destinations. Not for profit, mind but just because. In effect, we now live under a new form of oppressor, only now the oppressor is the central govt and those he appoints beneath him. And, and, And, not one of them will have the slightest clue about how to handle wealth and turn it into more wealth. Instead the economy will be a spending economy. Slowly ridding ourselves of the wealth the free market managers of the past created. A little like taking the piano away from Mozart and dividing its component parts among the masses. Wherever did the music go?