See this excellent article. Some excerpts:
"Socialism is not a unified economic theory. There are many types of
socialism. On one end of the spectrum is the old, totalitarian Soviet
system in which the State controlled the means of production as well as
distribution. On the other end is libertarian socialism, which calls for
decentralization of power as well as worker ownership, control and
self-management of the workplace."
"Bernie Sanders identifies himself as a Democratic Socialist.
Democratic Socialism in the U.S. arose in the late 19th and early 20th
Centuries in opposition to growing corporate power and increasing
militarism. One of the movement’s early founders and champions was Eugene V. Debs
– a historical figure for whom Sanders has great admiration. Sander’s
Democratic Socialist views are not incompatible with free enterprise,
nor even capitalism. Sanders simply believes, as do a growing number of
Americans, that capitalism should play by the rules and be subject to
the same laws and regulations as everyone else. Sanders, like those who
support him, understands that private corporations that grow 'too big to
fail' threaten democracy while exercising the kind of tyranny that is
endangering the very existence of life on Earth. Sanders also
understands that, while free enterprise does many things well, there are
institutions and resources that belong to all of us together and none
of us alone – and therefore, should never be subject to a
system focused on profits. These are the Commons: water, infrastructure
such as roads, bridges and utilities, health care, education, public
transportation, the right to basic housing, energy resources and
communications. The last thirty years have demonstrated how badly
private corporations have administered the Commons, using them almost
exclusively for their own benefit to the detriment of society and the
environment."
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