Careful
The op is really talking about Modern Liberalism
Socialism deals with corporate ownership by the workers. In other words, private ownership such as houses an cars, is still present, but business are in a form of shard ownership by the laborers.
State capitalism is ownership by the State. In its weakest forms, the state can own some businesses, investments and other properties. In its strongest form, Private property ownership is disallowed--all property, businesses and what have you are owned by the state.
All nations practice some form of State Capitalism. So called "Communist" nations usually take State Capitalism to the extreme.
P.S.
1. The late 20th century has proven many socialist and communist philosophers incorrect. You can not obtain socialism through revolution and State capitalism. The concentration of power is to great to "redistribute" power/property rights back among the individuals as required in Socialism. In fact, the seizing of wealth from the rich is not even a requirement of Socialism.
2. Revolution is not necessary to achieve a nearly pure Socialist system. 'in fact, many of the tools of the Free market system, such as ownership through stocks an bonds, can recreate any company into a socialized company!
3. Socialism does not resolve the so-called "economic inequality" problem. Modern Liberalism is the only known ideology that is directly focused on the issue.
4. Modern Liberalism focus on the redistribution of some power/property in order to correct the inequality found in Free market systems . How to do this in a justified manner is the core problem of Modern Liberalism. Regulations, social security an the welfare state are purely Liberal/Modern Liberal constructs.
5. The mixing of the definitions of Socialism, State Capitalism, Liberalism and Modern Liberalism is more the results of propaganda by right wingers to scare the population off from practicing any of the concepts.
In the end, there is always the practice of State Capitalism to some level. Socialism is not really a solution to economic woes. Modern Liberalism, if practiced, should be carefully monitored and highly criticized whenever exercised.
