Adults in the United States shifted their opinions on economic systems in a poll that finds the favorability margins of capitalism versus socialism are narrowing.
Gallup released a poll Monday that found 54% of those surveyed had a positive opinion of capitalism. This was the lowest approval rating in the six years Gallup has polled on capitalism.
Capitalism, the system where people outside productive organizations own them, took a dive in approval among Democratic respondents. Only 42% of Democrats had a positive opinion of capitalism, which was the first time the approval rating dipped below half.
Meanwhile, socialism, the system where people involved in production own the productive organizations, remained stable. Socialism had an overall approval rating from 39% of respondents, which was an increase from 2021, but not an all-time high.
Two-thirds of Democratic respondents reported a positive opinion of socialism, while 38% of independent respondents said the same. Socialism had an approval rating of 14% from Republican respondents.
This poll comes as the largest city in the United States, New York City, is on the precipice of electing socialist Zohran Mamdani for mayor. Among Mamdani’s campaign promises are to boycott, divest, and sanction Israel, freeze rent, defund the police, and provide free childcare. Mamdani’s campaign won him the Democratic primary earlier this year.
Sen. Bernie Sanders (I-VT) and Rep. Alexandria Ocasio-Cortez (D-NY) have drawn large crowds in traditionally red states in their “Fight Oligarchy” tour. Rallies were located in districts held by Republicans in Congress, but also recently included Maine, where Sanders endorsed Sen. Susan Collins’s more progressive challenger Graham Platner.
