Bernie Sanders Is Ayn Rand’s Worst Nightmare: He’s Changing How We View Socialism — and Exposing Free Market Parasites Conservatives have long wielded ‘socialism’ as a pejorative — but Sanders owns it and is transforming politics.
… The word “socialism” has become so freely used by the right that it has all but lost the meaning that it once possessed. Since even before the Cold War, the word socialism has been a pejorative in America. When people on the right say, “Socialism has already been tried,” they are by and large thinking of 20th-century communism in the East, i.e., a totalitarian state with a centrally planned economy. If this were the sole definition of socialism, then these anti-socialists would be entirely correct. When considering 20th century communism, it is clear that centrally planned economies without markets do not work in the long run (and black markets become an inevitable feature). At this point in history, markets are necessary for human innovation and wealth creation. But as the economist (and communist, according to Bill O’Reilly) Robert Reich points out his his new book “Saving Capitalism,” the free market vs. government debate is mostly pointless. In order to have a functioning market, there need to be rules, and for rules of the market there needs to be government; the real debate should be whether those rules are working for everyone or just the wealthiest individuals and corporations.