
Ed, Ed, Ed, Please do your homework on Socialism
Sorry, Ed, but the dictionary definition of socialism is not "a political system where the means of production are controlled entirely by the state" (see Prof G Markets Podcast August 11, 2026). And contrary to your claim that no one is answering the question "what actually is socialism", there are lots of genuine (vs. virtue signaling) socialists who do a pretty good job of exactly that.
You don't have to look any further than Scott's fellow NYU professor Vivek Chibber. Start with his podcast episode "How Socialism Could Really Work". I'll think you'll be quite surprised at Chibber's analysis of how markets and socialism can easily coexist. Spoiler: he is also an opponent of state-planned economies; his definition of socialism is (to paraphrase) an economic (i.e. not political) system where workers control the means of production.
This is not to say that Chibber and other socialist thinkers are always right. But I'd like to see Ed and Scott make a little effort to understand the topic before pontificating on it.