(A kind of weird notion anyway, since socialism by definition includes a certain level of "bridling" in the form of regulation.)
In its earliest days a case could be made for a proto-collectivist Marxism until the final Bolshevik takeover in the mid 1920s, at which point they swiftly reorganized into a totalitarian oligarchy with the "Communist" Party elites as the ruling class (quotes applied because there was actually very little resemblance between the operations of the Party in the USSR and any version of Communism as described by Marx and Engels).
To be fair, America's current version of capitalism would be as unrecognizable to Adam Smith as the USSR's version of communism would have been to Karl Marx.
Only a strong Constitution and a vigorous representative government with full adult franchise and regular elections, referenda, checks and balances, and institutionalized power-sharing protects a nation-state against the oligarchy of powerful interests.
When we set the money free with the Reagan deregulation, Citizens United, and the ongoing slow-motion GOP coup against democracy, we empowered our own little suite of oligarchs and their helots.
wearily,
Bright
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