Socialism | Definition of Socialism by Merriam-Webster

Just to be clear… Bernie Sanders is NOT a Socialist. Bernie Sanders is a candidate who advocates for a mixed capitalist economy in which certain services are considered existing “for the public good” and therefore should not be controlled by privatized, for profit entities. Things like Health Care, Education, our Corrections System, etc. should be seen as a “public good” and should be operated as such, not for profit. So, they should be publicly funded. That’s what Bernie Sanders advocates. Not any kind of wild radicalism there…

Nowhere does he call for the end of private property. Nowhere is he advocating the nationalization of Ford Motor Company or any of the other major “means of production”. He’s fine with private industry but does feel strongly that they require government regulation to keep them on the straight and narrow given the inherent tension between what is best for the country and what is best for their stock holders. So, they get to do what is best for their stock holders, as long as it doesn’t against the public good. Now how radical is that?

socialism

Full Definition of socialism

  1. 1:  any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

  2. 2a :  a system of society or group living in which there is no private propertyb :  a system or condition of society in which the means of production are owned and controlled by the state

  3. 3:  a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done

Source: Socialism | Definition of Socialism by Merriam-Webster