The rise of modern socialism

With the economies around world slipping into recessionary trends and growing concerns about demand in general, there will be more and more countries moving towards a socialist approach (USA is fast moving towards that). Not for the reason that socialism is better than others but it offers a sense of security as mass and being together. The free market will be looked at, evaluated and nicely constrained to prevent wealth aggregation by selected and privileged few.
The issue with current system is not of demand and supply but of mindless consumption driven by the constant bombardment of lavish life by few on to masses and hence making them a spoke in wheel of consumption.
With globalization of demand, production and consumption we can not continue to function on the premise that externalization of cost to satisfy demand in one part of world will continue to provide sufficient returns. Slowly we will see economies around the world will have to turn inwards in order to rejuvenate the system and create a system of inclusive growth.