“If I fund you, I own you.”
“No you don’t.”
“Want to see what happens if I cut off the funding flow?”
“I’ve made my point. Case closed.”
In “classical” socialism, the government owns the means of production. It owns all business and companies and corporations. It decides what is produced, where it is distributed, who benefits, who suffers.
This classical definition allows an escape hatch. “Look at America. How many companies are actually owned by the federal government? How many are in private hands? America isn’t even close to being a socialist nation…”
Now let’s get real. In actual practice, socialism means the central government controls increasing chunks of the economy by funding them.