Under socialism, human nature dictates that in due course the productive people will be supporting the slugs until they eventually give up and become slugs themselves. A "funny" saying was common in Soviet-Poland not so long ago: "They pretend to pay us, and we pretend to work." The Soviet Union collapsed due to its own weight, despite having an intelligent, hard-working population and untold natural resources.
In "capitalist" economies like ours, socialist initiatives like unions, social security, socialized medicine, graduated tax scales, corporate taxes,and business regulations work to keep from too much wealth being too concentrated at the top. In socialist/communist economies, the Sovereign eventually has to allow pockets of capitalism where individual entrepreneurs and closely controlled businesses can be energized by productive greed and the profit motive, such as we have seen in recent years in China.
Socialism can only work in small communities where the entire population is on board. Examples are convents, monasteries, and kibbutzim.