By Allen Cone
Sept. 8 (UPI) — Americans’ support for capitalism has sunk to 54%, the lowest percentage of polling by Gallup since residents were first asked the question 15 years ago.
When told “just off the top of your head,” a majority said they have a positive image of capitalism, the polling company said Monday
A total of 1,094 adults were surveyed by telephone from Aug. 1-20. The margin of error was 4 percentage points.
In 2010, Americans had a 61% positive impression of capitalism. It dropped to 56% in 2018, went up to 60% in 2019 and 2021, the last time the question was asked.
Broken down by party, fewer than half of Democrats for the first time see capitalism positively, at just 42% compared with 50% each in 2018 and in 2021. When the first survey was taken in 2010 after the Great Recession of 2008, 51% of Democrats had a positive view of capitalism.
Among independents, support was at 51% in the latest poll after 59% in 2021, 53% in 2018, 60% in 2010.
Republicans have been strongly in favor of capitalism, including 74% in the latest poll after 71% in 2010 and in 2018, 72% in 2021.
Socialism has much less support with 39% in the 2025 poll. But Democrats back it 66% with Independents at 38% and Republicans only 14%.
In 2021, the results were similar: 65% of Democrats, 40% of independents, and 10% of Republicans.
Respondents also were asked about free enterprise, big business and small business.
Americans are strongly positive toward small business (95%) and free enterprise (81%), which is consistent with past polls.
But there is a negative perception of big business, with 37% positive and 62% negative. In 2019, a small majority of 52% of Americans had positive views of big business with the high piints 58% in 2012.
In 2019, a slim majority of 52% of Americans still had positive views of big business. The high point was 58% in 2012.
Sixty percent of Republicans, 36% of independents and 17% of Democrats see big business positively. Compared with four years ago, Democrats’ rating declined the most, down 17 points, while independents’ rating is 10 points lower and Republicans’ is about the same. Republicans’ positive rating has dropped from 78% in 2019.
“While Americans retain generally positive views of the U.S. economic system, they are less positive toward it than toward free enterprise and small business, two specific aspects of capitalism,” Jeffrey Joens with Gallup said.
Capitalism and socialism are drastically different policies.
Capitalism is an economic system in which prices, production and the distribution of goods exist in a free market with a goal of profit by private or corporate ownership.
Socialism is collective ownership that can be administered through government, cooperatives or public enterprises with a goal to reduce or eliminate class-based inequalities and exploitation.
Identifying themselves as Democratic socialists are Sen. Bernie Sanders, Rep. Alexandria Ocasio-Cortez and New York City mayoral candidate Zohran Mamdani, who is favored to win the general elections.
President Donald Trump has called Mamdani and Sanders communists.
Communism advocates for a classless society in which the major means of production are communally owned and resources are distributed based on individual needs.
(UPI)