"As any introductory economics course can tell you, there is no capitalist economy anywhere in the world, and there is no socialist economy anywhere in the world, not even Cuba. We are all mixed economies; that is, mixes of capitalism and socialism, and we all vary that mix in different ways. China has more capitalism, and a lot more capitalism, than has Cuba, but it also has a lot more socialism than we [the United States] do. Our socialist programs include the biggest government spending programs: Social Security, Medicare, Medicaid, as well as welfare, and the socialist program I hate the most, agriculture subsidies. Yes, I’m a socialist, but I hate bad socialism, and there is plenty of bad socialism out there, just like there is plenty of bad capitalism out there, like the capitalism that pollutes our rivers or makes health care too expensive for so many people. I can argue this because every side of this is true: capitalism is good, capitalism is bad; socialism is good, socialism is bad; all of those things are true at the same time. That’s why we have a mixed economy, an economy in which we are trying to use the best, most efficient forms of capitalism, and the best, most efficient forms of socialism, where necessary. So my full truth is I am as much a capitalist as I am a socialist; but since we live in the only mature country in the world where “socialist” is considered such a dirty word that no one would dare admit to being one, I feel more compelled to stand up for the socialist side of me than the capitalist side of me."
- Lawrence O’Donnell