• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’

2

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

3

The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families

1

Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’

2

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

3

The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families
LeadershipPolitics

‘Socialism’ Is a Governing Philosophy. It’s Also an Offhand Insult

By
Sahil Kapur
Sahil Kapur
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Sahil Kapur
Sahil Kapur
and
Bloomberg
Bloomberg
Down Arrow Button Icon
June 11, 2019, 9:39 AM ET
Add Fortune on Google for similar content.

Socialism as a governing philosophy, an offhand insult, or both, is stirring politics again. From the U.S to the U.K. to Brazil and beyond, the term is being newly embraced, debated or disparaged amid larger conversations about rising inequality, the proper role of government, how to make sure capitalism works for average citizens — and what socialism really is, and isn’t.

1. Why is socialism being debated in the U.S.?

America’s best-known and highest-ranking self-described democratic socialist, Senator Bernie Sanders of Vermont, is again pitching universal health care and tuition-free college education as he seeks the Democratic Party’s 2020 presidential nomination. He now has some company in Congress in Representatives Alexandria Ocasio-Cortez of New York and Rashida Tlaib of Michigan, members of Democratic Socialists of America who won election in November. Sanders, Ocasio-Cortez and Tlaib are among the backers of a “Green New Deal” to zero out fossil fuels by 2030 and a “Medicare for All” nationalized health insurance system, both of which have been mocked by U.S. President Donald Trump.

2. Do these U.S. Democrats embrace the socialism label?

Generally speaking, no. Two dozen Democratic candidates for president overwhelmingly support policies to expand the social safety net, such as wider health care coverage, higher taxes on the rich, tougher financial regulation, student-debt forgiveness and an increase in the minimum wage. All but Sanders reject the “socialist” tag, however. Sanders cites approvingly how socialism is practiced in Denmark and Sweden, which provide health care and education paid for by high taxes. These nations (and others) embrace what’s known as democratic socialism, characterized by generous welfare systems, aggressive redistribution of wealth and regulations that rein in the private sector. But when Trump and other Republicans say socialism, that’s not what they mean.

3. How does Trump use the term?

Trump warns that Sanders and other liberal Democrats would turn the U.S. into a failed state resembling Venezuela. He’s working to revive a conservative line of attack on Democrats that dates back generations: that the American way of life is threatened by rising socialism or even by its most extreme form, communism. “America will never be a socialist country ever, never, never,” Trump told supporters at a rally in Green Bay, Wisconsin, on April 29.

4. So what is socialism, exactly?

In a dictionary sense, it’s an economic and political system under which the government controls major industries and decides how its products and proceeds are distributed. Early socialists were driven by a utopian ideal of equality and social solidarity, which they saw as incompatible with unrestrained capitalism. Sanders, in 1990, said socialism “means creating a nation, and a world, in which all human beings have a decent standard of living.” In practice today, in places like Scandinavia, socialism is akin to a highly regulated version of capitalism. To critics, socialism is best defined by the history of repressive and ultimately failed regimes that claimed the term, including the USSR — the Union of Soviet Socialist Republics.

5. What do Americans think of socialism?

While many who lived through the Cold War recoil at the word, there’s widespread support for big government programs — Social Security payments to seniors, health coverage for the elderly and poor through Medicare and Medicaid, benefits for the unemployed and disabled — that once were derided as socialist in nature. Americans 18 to 29 in age view socialism more favorably than capitalism by 6 percentage points, according to an August 2018 Gallup poll. But to Americans who are over 65, favorable views of capitalism overwhelm favorable views of socialism, 60 percent to 28 percent; to many older Americans, socialism evokes Communist China and the Soviet Union.

6. Who else is rethinking socialism, and why?

In the U.K., the opposition Labour Party is led by an avowed socialist who proposes re-nationalizing rail, energy and water companies. In France, Yellow Vest protesters are agitating for more benefits paid for by the wealthy, and even the government of President Emmanuel Macron warns that capitalism fuels inequality and is ineffective at delivering goals in the public interest. The Spanish Socialist Workers’ Party under Prime Minister Pedro Sanchez strengthened its hand in local elections in April. But socialist movements are in decline in other European countries and in some South American nations. Brazil’s president, Jair Bolsonaro, promises “liberation from socialism” following years under left-wing and centrist governments, while Ecuador — once associated with authoritarian socialist regimes such as those in Venezuela and Nicaragua — is moving in a new direction under President Lenin Moreno, who launched a national dialogue on economic and political reform.

More must-read stories from Fortune:

—Democrats hold out on USMCA as Trump walks back Mexico tariffs

—The story behind the Baby Trump balloon

—FCC takes major steps toward limiting robocalls and scammers

—Michael Bloomberg pledges $500 million to combat climate change

—Listen to our new audio briefing, Fortune 500 Daily

Get up to speed on your morning commute with Fortune’s CEO Daily newsletter.

About the Authors
By Sahil Kapur
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

Exclusive: Azzi Fudd joins Project B, the international league chasing a billion-dollar opportunity in global basketball
MPWSports
Exclusive: Azzi Fudd joins Project B, the international league chasing a billion-dollar opportunity in global basketball
By Emma HinchliffeJune 19, 2026
12 hours ago
The highest-paid hospital CEO made $43 million last year all while Americans hold $220 billion in medical debt
HealthCEO salaries and executive compensation
The highest-paid hospital CEO made $43 million last year all while Americans hold $220 billion in medical debt
By Cassie McGrath and Healthcare BrewJune 19, 2026
14 hours ago
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
EnvironmentJeff Bezos
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeJune 19, 2026
14 hours ago
Samantha Gloede
CommentaryLeadership
Boards must avoid sleepwalking into the AI era. KPMG’s Global AI risk chief has a survival guide
By Samantha GloedeJune 19, 2026
15 hours ago
Piyush Patel
Commentaryshopping
Black Friday already sorted the winners from the losers. Your industry is next
By Piyush PatelJune 19, 2026
15 hours ago
Thasunda Brown Duckett, TIAA CEO, speaks onstage during a live taping of "Earn Your Leisure" at Martin Luther King Jr. International Chapel at Morehouse College on January 22, 2024 in Atlanta, Georgia.
FinanceFortune 500 Companies
Meet the 11 Black Fortune 500 CEOs leading companies with over $432 billion in combined revenues
By Cheyann HarrisJune 19, 2026
16 hours ago

Most Popular

Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’
Success
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’
By Orianna Rosa RoyleJune 18, 2026
2 days ago
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
Environment
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeJune 19, 2026
14 hours ago
The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families
Economy
The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families
By Jacqueline MunisJune 17, 2026
2 days ago
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
Success
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
By Preston ForeJune 17, 2026
2 days ago
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Big Tech
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
By Tristan BoveJune 15, 2026
4 days ago
Current price of gold as of June 18, 2026
Personal Finance
Current price of gold as of June 18, 2026
By Danny BakstJune 18, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.