Loc: North San Diego County
I think that's the reason everybody has moved on from that definition of Socialism. The problem with it is one of scale. Central planning only works for a small enterprise, like a Kibbutz. When the enterprise gets larger, the planning grows exponentially. Beyond a small size, the planning fails.
So what actually works is a mixed economy, where government supplies the services it can supply best, and everything else is private enterprise. That's what they have in the most "socialist" countries, and in the least "socialist" countries. It's just a matter of degree. Like we think police should be employees of the state. In Somalia, they think police should be private. You can make a huge list of things the government runs here in the US, and compare those things to other countries. So-called socialist Scandinavian countries probably overlap our items by 95%!