"The extreme socialists desire to run every nation as a single business concern"

This quote by John B. S. Haldane is referring to the concept of extreme socialism, which is a political and economic system in which the federal government owns and manages the methods of production and distribution of goods and services. In this system, the government would be accountable for running the whole nation as if it were a single business. This suggests that the government would be in charge of setting costs, wages, and production levels, in addition to offering services such as health care and education. The concept of extreme socialism is that it would create a more equitable society, where everyone has access to the exact same resources and opportunities. However, it is likewise seen as a kind of authoritarianism, as the federal government would have total control over the economy and residents would have little to no say in how their country is run.