Earlier quoted context omitted.
A subsidy to a private corporation is not "socializing" production costs. Socialization is putting goods under social control. This is literally the opposite -- providing benefits to private interests. Even if the end has the appearance of being for the social good, in reality this has more to do with the power of the private dairy lobby than any pricing concerns about availability of milk. That dairy producer's lobb…
"Socializing costs" is a widely used term to describe the phenomenon of the public taking on private costs for some real or perceived benefit.
Apparently HN does not agree with me, I challenge my downvoting fans to find citations for "socializing losses" in the way you're talking about, prior to 2008.
"Lemon socialism" (gov't bailing out lemons) existed, but that actually has a different tone entirely.