Socialism is based on the belief that

Scientific Socialism bases its beliefs in socialism through scientific thinking - basing it's ideas on historical and social development, unlike Utopian Socialism which is simply based on people's ideals without consideration for their practicality.

Explanation:

Socialism is an economic and political system. It is an economic theory of social organization. It believes that the means of making, moving, and trading wealth should be owned or controlled by the government as a whole.

Socialism is a range of economic and social systems characterised by social ownership of the means of production and workers' self-management, as well as the political theories and movements associated with them ... Socialist systems are divided into non-market and market forms.