socialism vs socialist economy

socialism and socialist economy both are nouns.

Word	Noun	Adjective	Verb	Adverb
socialism	Yes	No	No	No
socialist economy	Yes	No	No	No

As nouns, socialism and socialist economy are synonyms defined as:

socialism and socialist economy: an economic system based on state ownership of capital

socialism (noun)	socialist economy (noun)
a political theory advocating state ownership of industry	an economic system based on state ownership of capital
an economic system based on state ownership of capital