It absolutely is. What is concerning is the lack of an accurate assessment of how it is rigged. Young people who believe in the vision of Democratic Socialism will often say that the fault of their economic struggles is the "billionaire class," and their ownership over such vast amounts of wealth relative to the rest of us. So, in order to repair this injustice, the government must insert itself into the economy and engage in redistributive measures to take from some ("the rich") and give to others ("the workers").

On a base level, what the Democratic Socialist is outlining here is a class analysis. In their narrative, there are the rich, who exploit their labor and garner large (and, in their view, undeserved) profits. Then, there are the workers, who can't seem to get ahead due to their inherent struggle against their corporate overlords.

The Democratic Socialist has also decided on a cure for this situation: government intervention into the economy. They believe that in order to break up large corporations and strip wealth from the billionaire class, the government should step in and enact their version of justice. Concisely, they are advocating for the growth of government as a means to redistribute wealth. This gets at the core of their misunderstanding of our current economic system.

There is a misconception that the power wielded under our current system by billionaires such as Elon Musk or Peter Thiel was handed to them by the free market, and that the government can be used as a tool to rid our society of their outsized influence. This is actually the opposite of reality.

The real reason that Elon Musk and Peter Thiel are able to have as much of an impact on our lives as they do is because of their cozy relationship with the government.

It is government favoritism which has allowed Thiel's company Palantir to gain access to vast sums of money through contracts and subsidies, for example. It is a phenomenon known as corporate welfare which has resulted in all of us being forced to fund militarism and murder overseas, regardless of how much we on both the right and the left may oppose it. It is not free markets which lead to this arrangement. It is the relationship between big government and big business.

Companies like Peter Thiel's Palantir haven't become as powerful as they have due to all of us voluntarily exchanging our money for their services. Their influence is the result of an unholy alliance between business interests and government power.

In a narrow sense, the Democratic Socialists have it right when they say there is a class conflict in our society. However, they are false in their labels. Unlike the voluntary associations we engage in daily in the private sector, we are forced to interact with one entity, the government, every single day regardless of our dissatisfaction with them. The real class conflict (or caste conflict) in our society is between those of us with the legal right to steal (the government), and those of us who must provide value through voluntary exchange in order to accumulate wealth.