Noun
an economic system based on state ownership of capital
Source: WordNetIt is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy. Michal Kalecki
It is essential to link enterprises on the basis of objective laws of a socialist economy and legal system. Samora Machel
But we don't have an example of a democratic society existing in a socialist economy - which is the only real alternative to capitalism in the modern world. Peter L. Berger
America is now a socialist economy. The definition of a socialist economy is when 50% or more of your economy is dependent on the federal government. Christine O'Donnell
Enrico Barone provided a comprehensive theoretical framework for a planned socialist economy. Source: Internet
Ironically, the socialist economy became steadily more dependent on financial infusions from hard-currency loans from West Germany. Source: Internet