I think the word “socialism” has largely lost its meaning in American politics because it has been used by the right to describe pretty much anything they disagree with. To the extent there’s a conversation around democratic socialism — even that seems to be a little squishy in terms of what it actually means.

I think of myself as progressive. But I also believe in capitalism, but it has to be democratic capitalism.

Part of the problem here is that you have one generation that grew up associating socialism with communism like they’re the same thing, and therefore also assuming that capitalism and democracy were inseparable. I’ve grown up in a time when you can pretty much tell that there’s tension between capitalism and democracy, and negotiating that tension is probably the biggest challenge for America right now.

You don’t have to look that hard to find examples of capitalism without democracy — Russia leaps to mind. And when you have capitalism without democracy, you get crony capitalism and eventually oligarchy. So a healthy capitalist system, working within the rule of law, is the stuff of American growth and can be the stuff of equitable growth. But we don’t have that right now.