Democratic presidential candidate Pete ButtigiegPete ButtigiegThe Hill's Morning Report - Presented by Facebook - Biden, Democrats inch closer to legislative deal Republican spin on Biden is off the mark Unanswered questions remain for Buttigieg, Biden on supply chain catastrophe MORE said Tuesday that he believes socialism is gaining popularity because "capitalism has let a lot of people down."
"I think the reason we're having this argument over socialism and capitalism is that capitalism has let a lot of people down," the mayor of South Bend, Ind., said on CNN's "New Day."
He also said that he believes in "democratic capitalism" and reiterated his comments that democracy is more important than capitalism.
"It's not just about saying, 'If you're this big, we're going to break you.' It's also, perhaps, the bigger you are, the more responsibility you have," he added.