The correct term is "Market Socialism" http://en.wikipedia.org/wiki/Market_socialism
"Market socialism is also used to refer to an economic system that utilizes a free-market and free price system for allocation and distribution of all resources, with public ownership in at least "strategic" sectors of an economy, with the state often utilizing market mechanisms to direct economic activity such as regulation over the autonomously-operating enterprises. This allows for the public enterprises to function more autonomously in a more decentralized fashion than in other state-oriented socialist economic systems."
"Let the good heart speak words of true peace, not inciting others to further war." -- B.I.S.