According to Marx, it is the final stage before a true democracy, a society where the power would lie in the hands of the working people, not in the hands of a small group of
…wealthy people. Essentially, the means of production would fall from the hands of the capitalists and into those of the labourers. By owning their own means of livelihood, the bulk of society, which Marx considered would be labourers working in industrial factories, would therefore be liberated from continual monotony of their production and the loss of returns that occurred because the capitalists improperly valuated goods for sale and stole their profits. He views this state of being as inevitable because the capitalist system itself would drive the increasing size of the prolertariat and complete their immiseration. However, before the final state of society, the anarcho-socialist society of equals, could be created, the workers would have to rise up and take power from the capitalists. During this transitory phase, the proletariat would institute a dictatorship and then, over time, dissolve its own power. ( Full Answer )