Socialism is, according to Karl Marx "From everyone according to their abilities to everyone according to their needs." In other words, the producers and workers must give what they have produced or worked for to the people that do not produce or work. There is no pride in ownership, there are no property rights. The government, or "the people" own everything and allocate resources as they see fit. It's good to be king or the government or "the people" to allocate things among your cronies like the present administration does.
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