The sharp rise in wealth inequality is the economic foundation of the resurgence of democratic socialism in the United States. These redistributive proposals resonate with many voters and provide an important source of popular support for democratic socialism. The rise of democratic socialism challenges the post-Cold War political landscape long dominated by conservatism and liberalism. The rise of democratic socialism is not only a product of America’s domestic contradictions but also reflects the country’s efforts to adapt to, and be reshaped by, a changing international order. Against the backdrop of profound changes in the international landscape, the rise of democratic socialism reflects a broader transformation of the United States.