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Late Stage Capitalism
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No not really. The reason you say we think of clothing to sell instead of clothing to cloth people is because clothing is so ubiquitous even the poorest person in society has access to clothing.
Socialism wouldnt make any difference here. Both the socialist clothing company and the capitalist one would be making clothes they think people would like to buy. Maybe if you're talking about state socialism or communism then it'd be more focused on getting clothes on people and not care about what they want. But thats a worse world in my opinion.