Under socialism, there will be no rich people because everyone will be consigned to brutal, crushing, inescapable poverty. Because of this, there will be no innovation either. The only advancements you see under socialism are in the realm of military technology (socialists, despite all else you might say about them, are great at killing people).
This is an...odd way to describe life in midcentury Britain (the closest thing to a realistic historical point of reference for "AOC/Bernie-style American socialism"), even if it wasn't the most ~innovative~ economy God ever created.
