Advocating social democracy

In recent times, the excesses of unregulated capitalism, even within a democratic society, has led to a widening gap between the rich and the poor, and the growth of social injustice.

- ELFREN S. CRUZ

People who want to change this unjust environment have often resorted to supporting populism and the rise of authoritarian government in an effort to lessen the power of the elites and the economic oligarchy.

This rise of populism, however, has led to more injustices and instead of reforming capitalism, has contributed to the rise of crony capitalism.

So far, the best alternative to correcting the excesses of unregulated socialism is the ideology of "social democracy." Social democracy is a political, economic and social system that combines the principles of a free market economy with the values of social justice.

It promotes policies designed to correct the inequities inherent in capitalism by fostering economic equality, ensuring access of the working class to welfare benefits and regulating the economy to protect workers and the environment.

Social democracy supports democracy as the form of government and believes, however, that political democracy should always be accompanied by social and economic reforms to improve the conditions of the working class. It is unlike socialism which advocates for the public ownership of the means to regulate and reform it in ways that ensure fairness and equity in a society.