Pakman distinguishes social democracy as a regulated form of capitalism from democratic socialism, which he defines as seeking to socialize ownership of the means of production.

“Democratic socialism is actually a form of Socialism where one would seek to socialize ownership of the means of production as an example social democracy is a very uh highly regulated form of capitalism the likes of which we would see in northern Europe Denmark Etc”

Socialism is superior to social democracy because social democracy remains a capitalist system vulnerable to the erosion of its social protections by the wealthy.

“these countries the social democracy we were talking about still have a lot of wealthy individuals a lot of people who are making money off of Finance capital and capitalism in general and their interests are always going to be to further erode the welfare state as best as they possibly can”