Why do socialists want government to control the economy?

Socialists advocate for government control of the economy to promote equality and reduce the disparities created by capitalism, which they believe can lead to exploitation and social injustice. By nationalizing key industries and implementing regulations, socialists aim to ensure that resources and wealth are distributed more fairly among the population. They argue that a centrally planned economy can better meet the needs of all citizens, rather than prioritizing profit for a select few. Ultimately, the goal is to create a more equitable society where everyone's basic needs are met.