If this is the definition for Socialism, what is your definition of communism? I'm haven't deeply studied politics, but I've used the word Communism to mean centrally planned economy controlled by the government, and Socialism to mean "Capitalism, with government wealth redistribution and/or regulations to steer the economy."

(In accordance with Prase's point - while I don't specifically identify as "Socialist" with a capital S, I lean in that latter definition's direction and use the word socialist to distinguish my beliefs from libertarianism and anarcho-capitalism.)