Depends on the political system in which it is implemented. Capitalism in a democratic political system is awesome, since it will protect property rights, individual rights and the right to keep most of your earnings and wealth. On the other hand, Capitalism in a communistic political system is oppressive since there are no protected rights, and it is a dog-eat-dog world, with only the inner circle enjoying the goods at the expense of everyone else (i.e., Communist Soviet Union).
There are other variations of Capitalism/Socialism with other types of political system, but these are the two major ones.
Depends on the person. I prefer capitalism because I am driven and motivated to better my life. If I was the type of person who wasn't willing to work, I would prefer socialism.
http://hubpages.com/hub/Capitalism-marr … orking-man
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