Your "widely accepted" definition is the communist European version. That's how commies and leftist scare people into voting for them.

In the Americas, being on the the right means very small government.

The left = large government

The right = small government

Communism, Socialism, and National Socialism are all on the left of the political spectrum.

True Capitalism and Libertarianism are on the right.

Crony Capitalism is on the left as it is more fascism, which is the merger of private business and government. So goverment regulation on private businesses is a form of fascism. Public-Private-Partnerships are a form of fascism. Grants given to NGO's is a form of fascism.