Source: Keith Hughes: What is Socialism?
I’m only interested in two types of Socialists when it comes to this post, at least. The Democratic Socialist, take U.S. Senator Bernie Sanders, to use as an example. And the Socialist Liberal, take Professor Noam Chomsky, to use as an example. Someone who is as liberal as me on social issues. That the individual is exactly that when it comes to their own personal affairs. And doesn’t believe we need big government to tell us how to live. But where the Socialist Liberal separates from me has to do with economic policy and foreign affairs. That the Socialist Liberal believes the role of government, especially the central government, is to take care of people. The Liberal, just wants everyone to have the freedom to take care of themselves. That government has the responsibility to see that everyone can do that. But not manage their economic affairs for them.
And that is basically where the Democratic Socialist and Socialist Liberal are on economic policy. A central government big enough to make sure that everyone is taken care of. That all of our basic necessities are met and that the central government should provide these services for us. With a private enterprise system to finance all of these government services for us. Financed through high taxes and big regulatory state to see that the private sector is meeting the needs of the people. And not just to maximize profits. Which is what democratic socialism and social democracy are. Not run the economy, but to see that everyone’s economic needs are met.