I personally believe the best model in the world is none other than the Nordic model. A good and well funded welfare state, free market and capitalism. Today Scandinavian countries are among the best places in the world largely due to market reforms and competition, even the healthcare system and education system has plenty of elements of privatization to it as they simply view it that profit equals efficiency.
While it isn't perfect it certainly is still a very good form of "socialism" or you could put it that it is actually socialism-lite. It works in Nordic countries due to the general mentality of the people and for the most part there isn't that sense of entitlement. Surprisingly in a country that you can get welfare for just about any kind of condition there are hardly any benefit queens here, you rarely ever see in the tabloids of a single mother with 8 kids that draws from the state an astronomical income that 80% of the working population could never ever have. Surprisingly none of the Nordic countries suffer from a work-ethic crisis either.
Do I support socialism? Absolutely!! Except like democracy a country must be ready for it. At this moment in time UK is simply not ready for it as the first and foremost thing that is needed is proper mentality rather than the mentality of playing the system to get ahead.