Capitalism is good when it promotes competition -- which creates better products, more efficiency, and generally pushes everyone -- as individuals and corporations -- to work better.
Socialism is good when it provides essential services to individuals and families who are adversely effected by economic forces beyond their control.
A healthy economy is the positive, mutually beneficial intersection of these two basic goals.
The part of Dr. King's quote that is critical is its reference to those living "in abject, deadening poverty." That's because the existence of those with "superfluous, inordinate wealth" is only really a problem when there exist those who continue to live "in abject, deadening poverty."
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