Final answer:
The socialist belief is that profit is the reward that needs to be withheld from workers.
Step-by-step explanation:
Socialists argue that capitalism inherently leads to the exploitation of workers and that the only solution is for the government to seize control of the means of production. They propose that wealth and resources should be redistributed in the public interest rather than accumulated by private owners for profit.
According to socialist thought, the profit motive in a capitalist society leads to inequities such as child labor and workplace fatalities.
They advocate for a societal organization where the means of production are owned by the public or worker cooperatives, and wealth is distributed more equally. This system would theoretically be based on public interests and provide benefits to those who are less fortunate or underemployed.
The concept of surplus value, introduced by Karl Marx, suggests that the profit made by capitalists above and beyond the wages paid to workers strengthens the capitalists' position and allows them to further exploit workers.
This theory views profit as an element that maintains inequality and believes that a revolution is inevitable as a result of these contradictions within capitalism.