Because this isn’t what socialism is. State ownership/price regulation by itself isn’t necessarily socialist or capitalist. It can be used to expand/reinforce market freedom or to undermine it.
The dictionary can be wrong about what a concept is (see: God). Regardless of any formal definition (and there isn’t just one formal definition of socialism), capitalism (capital-ism) requires state ownership and market administration to some degree in order to be what it is.
The problem is you are thinking of capitalism and socialism as a binary. An economy can incorporate elements of both (and usually does). Most capitalist economies incorporate some amount of socialism with utilities and essential services. Most socialist economies incorporate some amount of capitalism with entertainment.
Why?
Because this isn’t what socialism is. State ownership/price regulation by itself isn’t necessarily socialist or capitalist. It can be used to expand/reinforce market freedom or to undermine it.
The definition of socialism is literally state ownership of means of production and state administration of the market.
Are you saying this is capitalist state ownership and market administration?
The dictionary can be wrong about what a concept is (see: God). Regardless of any formal definition (and there isn’t just one formal definition of socialism), capitalism (capital-ism) requires state ownership and market administration to some degree in order to be what it is.
The problem is you are thinking of capitalism and socialism as a binary. An economy can incorporate elements of both (and usually does). Most capitalist economies incorporate some amount of socialism with utilities and essential services. Most socialist economies incorporate some amount of capitalism with entertainment.