Socialists like to take over when people have money.
Strangely, they always assume that the money will always be replenished no matter how fast they spend it. Sadly, they have never managed to work out that the previous system, often capitalism, is responsible for producing the wealth. When that stops so does the supply of money.
Now, when they run out of money they can no longer offer sufficient financial incentives for anyone to bother finding ways to make more money. So the only recourse is to threaten and coerce their minions to work harder or else. Often, a few million people have to die so that only those who think the right thoughts remain.