Rejecting socialism does not automatically identify one as a supporter of anarchy, robber barons or child labor.
Unfortunately the author of the video is completely confusing socialism with the basic functions of government. Even supporters of minimal government expect the government expect basic services such as trash collection, road maintenance, and defense to be provided from the appropriate government organization (Local, State, Federal). The majority of people expect reasonable government regulation in regards to business and basic contractual law (with an associated civil court system) to be in place in order to support the operations of businesses. Supporting business without excessive regulation does not imply an individual supports anarchy, robber barons, or child labor. Also it also does not mean that if an individual does not support a large scale, expensive, government social benefits system (aka "socialism") for people who do not contribute to society imply that the individual who pays taxes is not charitable or in any way supports anarchy.
I don't think he's an idiot. And as for the "blubbering" part, I didn't see him weep even once. No, now you're just arguing about degree. There are those who wish to privatize some of those services. See? Degree.
If a society were to completely reject socialism, robber barons and child labor is what it would get.
by the way how are the private sector unions workers doing with the current globalist type socialism. Where we get insurance company care instead of single payer. and we get more legal and illegal immigrants to keep down wages down. we
Perhaps they've taken socialism too far; as others have mentioned, a mixed economy is the best practice (and the only type in existence anywhere today, which should be indicative). However, Venezuela's main economic trouble is shared by several right now, too: over-reliance on selling relatively few products from the energy sector, which prices have crashed. I doubt the problem is too much socialism in all those countries.
The educated derelicts at the Central Banks are crushing savers, banks, insurance companies and pension funds all across the globe. They seem not to care. For their next Progressive trick, they are going to control the earth's temperatures all around the globe. Right down to the degree.