What is the difference between Socialism and Progressivism?

Socialism refers to an economic system whereby the running and control of the society's production resources are done by the government to achieve a common goal and benefit. On the other hand, progressivism refers to a political philosophy that works towards raising the average citizen's standard of living in a society so as to achieve betterment in the social transformation.

Due to the fact that the working class is being taken advantage of, socialists work toward abolishing capitalism. Conversely, progressives work toward employing capitalism so as to cause increment in the rate of wealth accumulation for the advantage of the citizens. In socialism, a planned economy is encouraged, while a mixed economy is allowed in progressivism. Due to these earlier factors about the approaches of each political philosophy, socialism is regarded as the mother of progressivism. The two ideologies, however, are working towards achieving equality among the citizens of a society.