The dilemma is real, but neither capitalism nor socialism are the answer. Until people start to think outside of these two 20th century boxes, there will be no solution.
How about something hybrid? E.g., ditch the “corporation” construct, and replace it with a “coop” construct, whereby everyone who works for an enterprise is a stakeholder? That at least would solve the problem of the super-rich, who sit by collecting capital while everyone else toils.
But that would not eliminate capitalism. E.g., to build a factory that is fully automated, it would require capital. That would come from investors. If we put a maximum dollar cap on the amount of investment in a business, then one would have to assemble a large number of people to raise a-lot of capital. They would all be owners. That’s called an IPO, but it would be an IPO (or a kind of crowd source) that is direct to the public — not to favored inside initial investors. Much fairer.
About UBI, a UBI would never have a good outcome. It would result in an underclass that just gets by — those “on the dole” — kind of like many of those on disability today who are not actually disabled (a-lot of people — the ones who have left the job market, and who we all support through our disability insurance); and an upper class that actually does things and earns a-lot more. Healthcare for the underclass might exist, but it would be low quality.
England has universal health care, but it has deteriorated, as large, centralized social programs always do, and anyone there with means has separate private health insurance, and so they effectively have to pay twice: once for the public system and then for their private insurance.
The high cost of health care has nothing to do with it being or not being universal. The root causes are in patent law (that one can patent drugs), the power of the drug companies (they only invest in high ROI research — for long term expensive treatments rather than cures, and so research on cures is largely limited to universities), and the way that drug trials are structured (the trials must pay the full cost of care, massively inflating the cost of phase 3 trials).
