The term "socialist" has been tossed around in the news lately in reference to any number of Obama Administration policies. Find out what socialism really means, where it came from, and how it got such a bad wrap. Eric Foner is Dewitt Clinton Professor of History at Columbia University and James Surowiecki is business columnist for the New Yorker.

James Surowiecki will be leading a conversation on the economy at The New Yorker Summit on May 5th. More information here.