In socialist societies, basic needs are met; a socialist system's primary benefit is that the people living under it are given a social safety net.

In theory, economic inequity is reduced, along with economic insecurity. Basic necessities are provided for. The government itself can produce the goods people require to meet their needs, even if the production of those goods does not result in a profit. Under socialism, there’s more room for value judgments, with less attention paid to calculations involving profit and nothing but profit.

Socialist economies can also be also more efficient, in the sense that there’s less of a need to sell goods to consumers who might not need them, resulting in less money spent on product promotion and marketing efforts.