Final answer:
Socialism's basic tenet is the social ownership of the means of production to distribute goods and resources based on community needs, promoting economic equality. It also advocates for the redistribution of wealth to combat the inequalities produced by capitalism. Marxism, a socialist ideology, foresees a proletariat uprising to create a socialist state as a precursor to communism.
Step-by-step explanation:
One of the basic tenets of Socialism is the social ownership of the means of production, which includes factories, mines, farmland, and other key industries. Socialists believe that this model allows for goods and resources to be allocated based on community needs rather than individual profit. They argue that government should have a strong role in coordinating and redistributing wealth in society to address the inequality engendered by capitalism. This contrasts with the capitalist ideal of private property and profit motive, which motivates individuals to work hard and innovate.
Furthermore, socialists view processes such as child labor and workplace fatalities as byproducts of the profit motive and regard the reforms proposed by some as insufficient to address the exploitation of workers inherent in the capitalist system. Thus, social ownership and a redistribution of wealth are seen as essential components in the achievement of a more equitable society.
Marxism, as a branch of socialism, goes a step further, predicting that the proletariat will eventually rise and overthrow the capitalist system, leading to a 'dictatorship of the proletariat' and setting the stage for communism. However, in practice, real-life socialist and communist states have struggled to implement these ideals successfully and without creating new forms of inequality or oppression.