hmm, I imagine the then 2 prevalent systems of neoliberal capitalism and soviet-style "communism" to be a pretty terrible combination actually. Although I believe I get what he was trying to say about individual rights within an economy of the commons(or at least thats how I interpret it).
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.
Smaller groups of humans (villages, households, ...?) could decide among themselves whether they prefer to live together by capitalist or communist principles. These smaller groups could function within a larger federation - a bit like the fediverse with its smaller instances where each can decide their own internal rules.