Socialism is back. Well, not exactly. The bailout plan and the collapse of Wall Street have led to a torrent of misguided criticism about the role of government in society and the distribution or redistribution of wealth. John McCain’s attempts to brand Obama a socialist seem particularly hollow when he and his party along with a Democratic majority have just presided over the nationalization of our country’s banks. What few have said however is that the government is willing to socialize losses but not profits. But there are calls for an emboldened progressive agenda and if there was ever a time to push for a more egalitarian market system, it is now. Not exactly socialism but something else. 

Here to cut through the superficiality of the McCain campaign and to examine the economic policies of both candidates are JARED BERNSTEIN of the Economic Policy Institute and an Obama campaign adviser, JAMES PARROTT of the Fiscal Policy Institute, and MARK LEVINSON, Chief Economist of Unite Here. 

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