All Hank, all the time.

[Mmmm, Burger (C.J.)]

Originally posted by taxwonk
Actually, socialism takes as its premise that it is labor that creates value, not property, and that therefore the laborers should, through the mechanism of the state, control the means of production, of which property is only a part, in order to ensure that workerss are compensated accrding to their work, or, in other words, according to the extent they create value.

That's marxism, not socialism. Based on Marx's theory, a socialist system would best implement the proper outcome. But one can get to socialism without marx's labor theory of value (which derives from Smith, so hardly uniquely supports socialism).