A planned economy, which is infinitely less efficient than markets...
... corruption
That is an example of an opinion, not a fact.
Yes, capitalism is great at deciding if you want an iPhone or and Android, or even if there is a market for a cell phone. It however fails miserably at providing the basic necessities of life (food, shelter, and transportation when demanded by the capitalist society to get your sub minimum wage job).
...
Communists nor government has a monopoly on corruption, far from it.
Do you have a cite for above? Capitalism has lifted billions out of extreme poverty the last several decades, saving a ridiculous amount of lives never seen before in human history.
You should look at information from places like the various UN agencies (UNICEF, WHO, etc.). Here is a fairly decent
recent summary with links to the source. The problem is not production of food, it is fair distribution. That has led to health problems at both ends of the spectrum, with an epidemic in both obesity and malnutrition; it also results in massive waste where at least 25% of the global food produced for human consumption is thrown out. Yes parts of the world like Latin-America and south-east Asia have improved since the 90's, but other parts have not.
Capitalism, especially that linked to oil, is the leading cause of strife in the world.