Via Ludwig von Mises:
Socialism is a cooperation of people, but a special kind of cooperation. There is one individual, or one group or class of individuals, that gives the direction to all other members of the group for their whole way of cooperation. In a socialist system there is one will that determines everything and all the people, all the members of the system, have to comply with the orders and provisions made by a small group or even by only one individual who is leading the whole organization. In the most elaborated socialist system that the world has known up to now, in the theoretically best elaborated socialist system, the leader was called the Führer. Führer means the head, the guide. Under the Führer principle, one man alone determines where and how the whole system has to work. In this system there is only one will that determines everything. There are no controversies. There is only the leader, the Führer, at the head. The others have to obey and to follow.
This system is very well known. It can be very well and very easily described; but it is a system whose consequences and effects are known to very few people, if to any at all. Under the Führer principle, under the kind of collaboration which we call socialism, under an organized or "planned" society, under this system, there is one central will that determines everything and all the other people have to follow. They have to obey. They are followers. There is certainly under such a system no waste of actions and of powers but this alone doesn’t mean anything. It means only that we have to say that all the other people have no will of their own, no possibility, no opportunity, no power, to influence the direction of the whole system, the direction of the cooperation and collaboration of the people.