It would be socialism in the way the country was run for the many not the few. A benevolent dictatorship. Unlike the evil dictatorship we have now. Economically it would be a highly controlled Keynesian capitalism. I guess something like the Attlee gov with it's nationalisation and building of the NHS etc etc but without elections which could allow the return of unrestricted crony capitalism.
There would be no amazon or facebook etc where they exist to make one man (and a cabal of shareholders and directors etc) wealthy enough to buy countries by making countless workers work the longest poss hours for the minimum poss reward and with the constant threat of being sacked if they are not "a good worker ant". Any companies of that size and influence would be state owned and run for the common good.
There would of course be much better pubs than wetherspoons, run by the state, with beer about £1 a pint