Socialism takes the ownership, responsibility, and benefits of resources and the means of productions out of the hands of the elite few and puts them under the collective hands of the people. Contrary to popular belief, this actually increases the quality of goods produced, etc. After all, are you going to work harder to produce a better product or service to make someone else rich or for your own company of which you have a vested interest? With socialism the workers themselves own the companies, resources, and means of productions so they have a very real connection and vested interest in the well being of said companies, etc.