No. For the most part unregulated. This is where socialism starts to run into economic problems as production, distribution and exchange needs to be determined by market forces. Socialism applied at government level runs into problems of over controlling something which they can never have enough information to understand or regulate.
Granted it is something governments tend toward- increased control, but that isnt a good thing. Basically a government is supposed to facilitate the few things that open market cant achieve and to enforce the basic rules of dont lie, cheat or kill your customers. Everything else is just icing (and govs that cant achieve those few also have economic problems).