The funny combination would be to combine the single party authoritarian structure with a completly unregulated economy for maximum carnage :P
As far as I underatand the quote, hes talking about needing a socialist system where the rights of individuals are respected and protected, but factories, housing etc is owned and and managed by the commons.
That kinda sounds like the goal of socialism to me, with a state managing the societal functions but the workers owning the means of production but still in a capitalist environment
