How to pronounce “socialist economy” in English

In 1991, after 45 years of our existence, liberalization finally set in.The structural scaffolding of a socialist economy was removed.And India opened up for the benefit of having multinationals enter this country.

The fluctuations and disparities in outcomes, and even in prospects, typical of modern economies and the endemic unemployment led to socialist opposition.Some nations moved part of the way to a socialist economy, seeing more planning and more state ownership as a step towards stability, equality,and greater employment. Generally speaking, the socialists spoke of greater development of people's capacities to produce,