Lester, I would question that statement- that sounds more like Communism there. Just saying.
El Misfito's post reminded me of something, I heard back in the '60's. Though they probably date back to the '30's. And while I admit the definitions are somewhat simplistic, there is a kernel of truth to them; therefore, here are . . .
socialism
2 cows. The government takes one and gives it to your neighbor.
communism.
2 cows. Takes the cows and gives you some milk.
facism
2 cows. Takes the cows and sells you some milk.
new dealism
2 cows. You shoot one, milk the other, and pour the milk down the drain.
nazism
2 cows. Shoots you and takes the cows.
maoism or marxism
2 cows. Shoots you, shoots the cows, and starves the consumer.
capitalism
2 cows. You sell one and buy a bull.