Definitions are always like trying to nail Jell-O to the wall, but it's even more difficult when we're as comically divided as we are now. For Trumpsters, anything to the left of libertarianism is evil Satan commie (except for when Trump does it, of course), so trying to explain it is wasted effort.
It would be nice if all concerned could work together to identify a point along the spectrum between the two ends.
Generally in Europe it is considered as a balancing act... Some issues can be solved by Government/Social/Left solution, some issues by Private/Capitalist/Right solution...
Anyone saying all Capitalism or Socialism is evil is dutifully thought an idiot as they take one of your possible solutions off the market and tie your hands...
An example in Ireland at the moment is wind turbines... The Government doesn't want to build them, they a local issue disaster, while they need to be done (Ireland is the windiest place in Europe) and they stop Ireland importing 100% of its oil... So they got Private companies to do it...
Now the people are asking why private companies are getting record profits from wind (which Irish people consider they own).
It's a balancing act, everyone has various ways of making the cake... Copying each other in Europe is actually encouraged by the people, politicians love presenting an idea and tell people how it worked really well in Sweden or Finland (or even US, robbed a few over the years)...
But the main concept ie, this government better work for us (the people) or they are gone...
P.S. Money in politics is massively curtailed... Every donation and expenditure is capped and monitored... Political ads from independent orgs are just banned and the platform TV station, Newspaper, Radio... is heavily fined and could loose their licence if there is even a mention of an issue or party... Social media and online is getting more and more restricted... BTW, really welcomed by the people, they hate mindless ads, it means the best exposure is in debates and Parliament question time...