Socialism has been quite the big news recently. “We Are All Socialists Now,” screamed the Newsweek headline. Salon’s Mike Madden writes, “Here Comes Socialism” just last week  and a New York Times Reporter asked President Obama if he’s a Socialist.

It’s clear that Socialism poses a grave threat to the American way of life. Or does it? The Chicken Little branch (of the GOP and Fox News) would certainly have us believe so. Others (Democrats, Obama, Geithner) shrug off the question of socialism and want to focus on solving the overriding current economic crisis.

Me? I certainly don’t have the answers and as Pope Rob might say, I’m no economist. Nor am I a political science professor or quite the A-student that Saturn Smith is. But, I do feel like there is some basic misunderstanding around what socialism is, how it is defined and implemented and what it means to American democracy.

In sum, when I read and listen to all the buzz, I feel quite like the littlest girl in The Sound of Music, who in the middle of Maria teaching the children “Do, Re, Mi” is frustrated and shouts, ”but, it doesn’t mean anything?” (it's at about 2:28 in this video if you wish to listen)

Rather than burst into song ala Julie Andrews (which would be truly frightening) or write a lengthy treatise on socialism (which I considered, and thankfully rejected), I thought I’d put forth a quiz to both entertain and enlighten.

NOTE ADDED: I'll make it easy and BOLD, for those of you like Michael Rodgers, looking for the CHEAT SHEET!   

[Don’t worry if you didn’t score 1500 on your SATs; we grade on a curve these days, don’t you know? In true SAT/standardized test fashion, this test includes Multiple Choice, True/False, Fill in the Blank and Analogies (my un-favorite). And except where noted in the Fill in the Blank section where there may be multiple right answers, there is usually one BEST answer. Answers and explanations can be found in a separate post. Prizes will be awarded - virtual, of course.]

Section 1: General Questions. Multiple Choice.

1. Socialism is defined as:

a.  A political theory advocating state ownership of industry
b.  An economic system based on state ownership of capital
c.  A doctrine advocating the elimination of private property and the exploitative ruling class
d.  A stage in Marxist-Leninist theory on the path from capitalism to communism
e.  All of the above

2. Socialism is NOT:

a.  Fascism
b.  Communism
c.  Totalitarianism
d.  Anti-Christian
e.  All of the above

3. The United States’ economy (let’s say, prior to October 2008) would best be described as:

a.  Laissez-faire capitalism
b.  Corporate capitalism
c.  Mixed Economy
d.  Market socialism
e.  Classic socialism

4. The form of government in the United States can best be described as:

a.  Direct democracy
b.  Constitutional Republic
c.  Oligarchy
d.  Participatory democracy
e.  All of the above
f.  Both b and d

5. The following countries could be considered socialist in Marxist or classical terms:

a.  Cuba
b.  Sweden
c.  Canada
d.  Great Britain
e.  All of the Above

6. These U.S, government program(s) could be considered socialist in nature:

a.  Social Security
b.  Schools and Libraries
c.  Unemployment Insurance
d.  Maintaining an Active Military
e.  All of the Above

Section 2: Comparative Economies: TRUE or FALSE

7. Since 1995, the United States has consistently scored among the top three countries in the Index of Economic Freedoms.

8. The U.S. ranked 18th in the 2008 Democracy Index rankings compiled by The Economist.

9. The economy of the Republic of Iceland, called the Nordic Tiger, can be said to be an example of the successful implementation of Free Market philosophy and loosening regulations.

10. China’s economy can be considered primarily to be a Soviet-style centrally planned communist one.

Section 3: Taxes and an Historical Perspective. Fill in the Blanks

11. President (or Candidate) Obama has been called “Redistributionist in Chief” by: _______________________________ (there may be multiple right answers)

12. President Eisenhower cut the highest marginal tax rate from 92% to ______.

13. Under President _________________ , the highest marginal tax rate was 39.5%.

14. The Earned Income Tax Credit was initiated by President _______________ and expanded under President ___________________.

Section 4: Putting it all Together. Analogies.

15. Most Americans fear (and/or disdain) socialism because they believe:

a.  They will not be allowed to choose our own doctors and be denied surgeries
b.  We will become lazy Frenchies sitting around drinking wine and getting 6 weeks of vacation
c.  Whatever Rush tells them to
d.  It will mean higher taxes and less efficient services
e.  It is a form of redistribution of wealth that is essentially un-American and unfair
f.  Frankly, I have no idea, but am pretty sure it is some or all of the above.

16. Socialism is to democracy as Ham is to:

a.  Observant Muslims and Jews
b.  Rush Limbaugh
c.  Tofu
d.  Green Eggs

Thank you for taking the time to complete this quiz. Answers, with explanation and commentary, can be found here.