Recent polling data reveals a notable decline in Americans' favorable views toward big business and capitalism. According to a Gallup survey, only 37% of Americans currently express a positive opinion of big business, a decrease from 46% in 2021 and a sharp decline from 52% in 2019. Meanwhile, 54% of respondents maintain a favorable view of capitalism, although this figure has also dropped six percentage points since 2021. This represents the lowest level of support for capitalism recorded by Gallup since it began tracking this sentiment in 2010.
The decline in positive perceptions is particularly pronounced among younger demographics. Only 43% of individuals aged 18 to 34 view capitalism favorably, while a notable 54% hold a negative opinion. Interestingly, nearly half of this age group, 49%, reported a positive view of socialism, compared to 46% who view it negatively. This shift in sentiment may contribute to the rising prominence of figures like Democratic socialist state assemblyman Zohran Mamdani, who recently secured the Democratic primary for New York City mayor with significant support from younger voters.
In contrast, while overall views of capitalism have waned, other aspects of the economic system remain popular. For instance, 81% of Americans express a positive view of free enterprise, and 95% have favorable opinions of small businesses. Partisan divides also influence perceptions, with 74% of Republicans viewing capitalism positively, while only 14% have a favorable opinion of socialism. Among Democrats, 42% rate capitalism positively, in contrast to 66% who view socialism favorably.
The survey, conducted from August 1 to August 20, included 1,094 American adults and has a margin of error of four percentage points.