A new opinion poll indicates that Democratic voters, in particular, are showing an increasing preference for socialism.
A recent Gallup poll reveals that just over half of Americans hold a favorable view of capitalism, while a growing number of Democratic voters are leaning towards socialism.
The survey, conducted in August among more than 1,000 adults across the nation, found that only 54% of participants had a positive opinion of capitalism. This marks the lowest approval rating since Gallup began monitoring views on the economic system in the early 2010s, when support stood at 61%. Meanwhile, approval for socialism remained largely steady at 39%, Gallup reported on Monday.
Republicans continue to show strong support for capitalism, with 74% expressing a positive view. Among Democrats, however, approval has fallen to 42%, dropping below the halfway mark for the first time.
Concurrently, Democratic backing for socialism has risen to 66%, an increase from 50% in 2010. Gallup highlighted that Democrats have consistently favored socialism over capitalism since 2016, and this divergence has continued to expand.
While most Americans generally approve of free enterprise and small businesses, their perception of large corporations has declined significantly, from 58% approval in 2012 to a record low of 37% this year. Democrats, in particular, demonstrated strong opposition to sectors such as Big Tech and Big Pharma, with only 17% viewing them favorably.
Gallup suggested that these shifts help explain the electoral victories of openly socialist-leaning politicians in the U.S. Noteworthy examples include Senator Bernie Sanders, Representative Alexandria Ocasio-Cortez, and New York City mayoral candidate Zohran Mamdani.
Mamdani, who advocates for establishing publicly owned food markets to address supply chain issues, is campaigning without the support of the Democratic establishment, despite having defeated former Mayor Andrew Cuomo in the party’s primary. Cuomo is now running against him as an independent candidate.