system
Given the following post, respond as if you're commenting on Reddit:
human
New to Econ, is socialism rejected by mainstream economics?

Like the title says, I just started looking into to Econ for the first time and I was curious: as socialist economics are described as heterodox, does that mean that mainstream academic consensus is that socialist economics don’t work? I understand the rejection of Central planning given its well documented failures, but it seems like market socialism is rejected as well, at least from what I’ve gathered from posts on this sub and bad econ. 

Does this mean that socialist economic theory is just considered to be wrong by orthodox economists, or am I misunderstanding something? As someone new to the subject, any and all help is appreciated.
gpt
Terms like socialism, capitalism, etc. are generally not particularly well regarded because they are imprecise to the point of saying nothing at all. So in that regard, it's neither accepted nor rejected.

In practice there will always be situations where more or less state intervention leads to more desirable outcomes and different ownership structures have different benefits, broad statements make little sense here.