Socialism Increasingly Popular With Young U.S. Adults

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Half of the young US adults view capitalism positively, down from 66% in 2010. Big business also loses some appeal with young adults.

HIGHLIGHTS

  • Half of the young adults view capitalism positively, down from 66% in 2010
  • Big business also loses some appeal with young adults
  • Free enterprise maintains a high rating among all age groups.

A new Gallup poll has found that young adults’ opinions of capitalism have deteriorated since 2010 in the United States. Currently, both capitalism and socialism are tied in popularity among Millienials/Gen Zers (aged 18 to 39). The gap is far more pronounced among Gen Xers in the 40-54 age bracket where 61 percent support capitalism and 39 percent favor socialism. Among Baby boomers/Traditionalists, supprt for capitalism and socialism stands at 68 and 32 percent respectively.

Young adults support small businesses, entrepreneurs and free enterprise. However, they differ from older generations. Young adults also support Americans’ basic economic freedoms but have concerns about the power hold companies as they grow. The young generation are more comfortable with using the government to check power.

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