Socialism vs capitalism

The rise and fall of socialism and communism during the past 100 years is well documented. Today only five communist countries remain and they are China, North Korea, Laos, Vietnam and Cuba. Of these China and Vietnam have transformed into free market economies while retaining a communist political system. As these ism countries came to power an estimate 100 million people were killed and many more were deprived of their personal freedoms. Many people express surprise at a recent poll showing that 51% of young people have a positive view of socialism but what is their understanding of socialism?