Eph 4:28 The thief [who has become a believer] must no longer steal, but instead, he must work hard [making an honest living], producing that which is good with his own hands, so that he will have something to share with those in need. AMP
Let's break this verse down and see how it utterly destroys socialism.
1. Those who have been stealing must stop taking what belongs to another or to others.
We know at its core socialism is theft. In the name of "equality," both the failed hardline socialism and the newer "gentler" Democratic Socialism want to take the wealth of some and "redistribute" it to others. So those who have worked hard, taken risks, reinvested their profits must give up their hard-earned wealth and be forced to give it to those who may have put little or no effort to produce anything.
2. Instead, they are to work productively, producing what is good.
Hard work, self-reliance, and productivity are championed throughout scripture. Incentive is crucial to production and excellence. Socialism disincentivizes hard work and excellence in the workplace. Everything produced is for the State to redistribute to others and is usually of poor quality. Innovation is non existant.
3. Management of their (legitimately acquired) assets well.
As I have written before, capitalism is the best system ever tried that creates wealth for people who work hard and take risks. When Paul says "that he will have Something" That "something" can be inferred as, "possesions to hold". The profit that comes from hard work, I get to manage and multiply. The inefficiency of government to allocate capital V the private sector is staggering. Put it this way, would you like to manage your own money or have government bureaucrats wastefully spend it on bridges to nowhere?
4. So that they may have a surplus.
Now that I have a surplus, Paul says I can voluntarily share or give some of that surplus away. Luke 6:38 is easily miss understood unless you understand why Jesus says "give and it will be given to you", and what was given to us was multiplied to an overflowing abundance. If I have more I can give more, I must give more.
5. Those in need.
I love this. As a steward and multiplier of what God has given me, I get to help those in need. It covers just about anything. You might have a passion to feed the hungry, go for it. I have friends who want to come to communities after weather disasters and help communities. They raise and spend about $80,000,000 a year doing just that all over the world. Those in need are whoever God puts on your heart to help.
Socialism has never helped anyone other than those at the top.