This is what Sen Sanders claims to be.
No wonder he sounds so naive in his views; let the masses control economic decisions. The workers and consumers who can’t handle their own mini economies, can’t handle their own debt or spending or saving?
Want a good example of this philosophy gone wild? Look to public employee unions and their alliance with politicians and there you find a perfect example of acting only in a faction’s best interests at the expense of the majority.
If resources are used only to make money, how does that happen unless a human need fulfilled generates that money? Is that not true from oil and minerals to food and housing?
Can capitalists make money from anything workers and consumers don’t need or desire?
Democratic socialists do not want to create an all-powerful government bureaucracy. But we do not want big corporate bureaucracies to control our society either. Rather, we believe that social and economic decisions should be made by those whom they most affect.
Today, corporate executives who answer only to themselves and a few wealthy stockholders make basic economic decisions affecting millions of people. Resources are used to make money for capitalists rather than to meet human needs. We believe that the workers and consumers who are affected by economic institutions should own and control them.