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

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
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

Trump’s 927-page disclosure is just a normal Tuesday for direct indexing and crypto wealth managers
InvestingDonald Trump
Trump’s 927-page disclosure is just a normal Tuesday for direct indexing and crypto wealth managers
By Catherina GioinoJuly 1, 2026
1 hour ago
How foodservice giant Sodexo is embracing AI and robotics to reshape the kitchen
NewslettersCIO Intelligence
How foodservice giant Sodexo is embracing AI and robotics to reshape the kitchen
By John KellJuly 1, 2026
7 hours ago
U.S. Polo Assn. CEO J. Michael Prince
SuccessThe Promotion Playbook
U.S. Polo Assn. CEO was told he wasn’t right for a promotion—so he ‘outworked’ anyone else who wanted the job for 6 months straight
By Orianna Rosa RoyleJuly 1, 2026
8 hours ago
Nikesh Arora, chief executive officer at Palo Alto Networks
SuccessJobs
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
9 hours ago
DHL plane being refuelled at airport by man in high-vis jacket
EuropeAviation
The Iran conflict saw jet fuel prices soar—when you use 1.88 million tonnes a year, how you respond really matters (just ask DHL)
By Sam ForsdickJuly 1, 2026
11 hours ago
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
CommentaryCareers
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
By Jeremy FainJuly 1, 2026
13 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
17 hours ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
15 hours ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
11 hours 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.