Democratic presidential candidate Bernie Sanders is planning a major speech on his political philosophy of democratic socialism. With his second-place standing in the polls solidified, many are wondering what would happen in a Sanders economy, and what exactly is democratic socialism.

Several declared campaign positions give us guidance. As was made clear in last week’s debate, Sanders’ presidential campaign is focused almost exclusively on income inequality. He offered that democratic socialism is “saying that it is immoral and wrong that the top one-tenth of 1 percent in this country own almost 90 percent — almost — own almost as much wealth as the bottom 90 percent.”