Dhaka, Jan. 13 -- In 2017, the weekly Economist declared in the cover story, 'Socialism is back in fashion'. Despite proclamations of the end of history, following the dissolution of the Soviet Union in 1992, the weekly paper noted the 'remarkable growth of popular support for socialism in the midst of growing social inequality'. The paper said, 'socialism is storming back because it has found an incisive critique of what has gone wrong in western societies', adding that 'inequality in the West has indeed soared over the past forty years'.

The growing popularity of socialism referred to in the editorial in the Economist, was evidenced most prominently in the surge of support for left-wing political candidates, Senator Barnie Sanders and ...