America's Slide Towards Socialism

 New poll by Axios (here and here) finds that Americans are more accepting of socialism than ever.  

But, young adults’ perceptions of capitalism have been the real driver of topline change in the past two years. Today, 18-34 year-olds are almost evenly split between those who view capitalism positively and those who view it negatively (49% vs. 46%). Two years ago, that margin was a gaping 20 points (58% vs. 38%). By contrast, views among adults ages 35 and older haven’t budged, with wide margins of 35-64 year-olds and 65+ saying they view capitalism in a positive light. 

Among adults in Gen Z (ages 18-24), perceptions of capitalism are truly underwater: 42% have a positive view and 54% have a negative view. 

 Approval of capitalism is falling even among young people that identify as Republicans.  

And more specifically, young Republicans have seen real movement in the past two years: in 2019, 81% of Republicans and GOP leaners age 18-34 had a positive view of capitalism; today, that number has fallen to 66%. Among Republicans 35 and older, views haven’t shifted as substantially.

More at Jonathan Turley's blog who makes the very insightful comment about the role of the education system in turning young people against capitalism:

The shift in favor of socialism is no surprise for some of us. My kids were often given material and lessons in their public high schools that criticized capitalism while rarely pointing out the failures of socialist countries like Venezuela.

Indeed, Venezuela continues to receive support despite a blood-soaked regime that has destroyed free press and free speech rights as well as reducing the country into an economic basket case. Recently, the Democratic Socialists of America (which claims supporters in Congress) visited Venezuelan dictator, Nicolas Maduro.  Previously, we discussed the delegation of Chicago Teachers visiting the country and showering it with praise as political prisoners languished in the jails of Maduro.

The pandemic has led to a massive increase in government spending which is also likely to shape the views of many on the benefits of government controls and centralized programs.  These polls show a generation coming to age that is ready to embrace aspects of Marx’s Das Kapital over Smith’s Wealth of Nations.