Democrats are Progressive Capitalists---Not Socialists!
President Trump is wrong in labeling Democrats as Socialists!. According to the above American economist Joseph E. Stiglitz, liberal or left-leaning Democrats are "Progressive Capitalists!"
Democratic presidential candidates in the 2020 election will not be able to effect any real or permanent change since their proposed new or more social entitlements within the capitalist economic system will not and cannot endure!
The corporations and the wealthy, who are the real decision-makers for our country's economy, who own and administer the entities providing products and/or services, will only tolerate increased social benefits or government entitlements for the general population, when it does not impact on their own bottom line of profits.
If inflation, or a recession, or even a depression occurs, then any new entitlements or increased social benefits will be withdrawn by those who control the capitalistic economic system! All pullbacks are done in an undemocratic way. Furthermore, these elite capitalists will blame the liberal reformers for the problem as justification for the cutbacks and reduction in employee salaries and benefits.
Whereas, under socialism, equality and fairness is permanently protected due to a more democratically administered economic system. The workers and community, who will own the different private and public entities, will determine if the companies or services have merit to the community and for the common good. The workers cooperative or workers council will, in a democratic way, also set policy, determine compensation levels and profit distributions, depending on each employee's contribution to the entity's mission, in a fair and more equitable way.