MORTIMER J. ADLER ON DEMOCRATIC SOCIALISM

"The economic counter part of this political ideal is socialism. Socialism is an ideal, as democracy is, and it is approximated in varying degrees. As an ideal it is the economic face of political democracy. The ideal is approximated in a society in which all mature citizens are economic as well as political "haves". It is a society with no economic have-nots -- no one deprived of a decent livelihood, to which every human being has a natural right.

In the same way that all citizens are political "haves", they are all economic "haves". That is why democracy and socialism are two faces of the same coin. Among the economic "haves", some will have more and some less in terms of the contribution they make to the economy. But all are equal at the baseline in which all have enough to live a decent human life."

You will find the best elucidation of Adler's ideal of Democratic Socialism in his book "The Common Sense of Politics", Chapters 11 and 12.