During a CNN town hall, House Minority Leader Nancy Pelosi was asked if the democratic party could move more left on economics to which she replied, “We’re capitalist.”
This really shows why the Democrats were unable to defeat Trump’s right-wing populism - they have no desire to break with their neoliberal economic policies. Trump managed to capture the support of the American working class by appealing to economic plights and promoting an economic policy that at least offered an alternative to the neoliberal economic policy that has been typical of capitalism recently. The only way right-wing populism will be defeated is if the left can prove that they can offer an alternative to the working class. I wouldn’t actually expect the Democrats to reject capitalism, but at least advancing some kind of social democratic policies like those of Bernie Sanders would help them to form a genuine alternative to Trump.