I hear the term “socialist” bandied about a lot. As somebody who took a whole semester on the topic (titled, simply “Socialism”, by the late Adam Ulam), I would like to forward a very simple economic definition:

Socialism is an economic system in which the means of production and distribution are owned or controlled collectively

So, who’s a socialist? Consider this tabulation by the Cato Institute of Federal government ownership, and how it’s boomed under… Donald Trump.

Source: DeHaven/Cato (2026).

In other words, the most avidly socialistic … or perhaps avidly economic fascist:

Economic fascism is a system where the state exerts strong control over private enterprise, directing economic activity to serve national interests while maintaining the appearance of private ownership.

is the Trump Administration.