Social democracy is still fundamentally capitalism. Adam Smith was a left-wing radical living in a transnational period period between feudalism and capitalism

Social democracy is still fundamentally capitalism. Adam Smith was a left-wing radical living in a transnational period period between feudalism and capitalism where the main Tyrannical force was the state - now that has changed to corporations. Whether you're left or right wing economically, it's an accepted fact that capitalism has a cycle of boom and bust built into it. Right-libertarians (e.g. The Democrats and The Republican Party) believe that this can be avoided by freeing the market by removing deleterious incentives, centrist Keynesians (e.g. FDR with the New Deal, Bernie Sanders) don't trust capitalists to self regulate and instead accept the cycle of boom and bust, but try to avoid the social unrest by smoothing out and mollifying the crises, and left-libertarians (e.g. John McDonell, Richard Wolff, Paul Cockshott) try to eliminate the cycle of boom and bust, much like the right libertarians. This framing (e.g. of Democrats as economically right) may be provocative to Americans, but is natural in the rest of the world. I'm Australian and Bernie Sanders is to the right of our right wing party.