Support for capitalism in the United States has reached its lowest point since Gallup began tracking the issue in 2010, according to a recent survey. The poll, conducted between August 1 and August 20 among 1,094 adults, found that 54% of respondents have a positive view of capitalism. This marks a drop from 60% in 2021, when the question was last asked.
The decline is most notable among Democrats and independents. Among Democrats, only 42% reported a favorable view of capitalism, down from 50% four years ago. For independents, support fell to 51%, compared to 59% in the previous survey. Republican support for capitalism remains high at 74%, up slightly from 72% in 2021.
The poll also measured attitudes toward socialism. Thirty-nine percent of those surveyed expressed a positive view of socialism, which is nearly unchanged from previous years. Two-thirds of Democrats said they had a favorable opinion of socialism, up slightly from two years ago. In contrast, only 38% of independents viewed socialism positively—down from prior levels—and just 14% of Republicans shared this sentiment, though this was an increase from earlier surveys.
Views on big business have also shifted downward across all political groups. Just 37% now say they hold a positive view of corporate America—a record low—compared with 46% in 2021 and more than half (52%) in 2019. Republican favorability toward big business stands at 60%, nearly unchanged from before; however, support among independents dropped to 36%, and Democratic approval fell sharply to just 17%.
These shifts come as several politicians associated with democratic socialism gain attention nationally. Vermont Senator Bernie Sanders continues his “Fighting Oligarchy” tour advocating for policies such as Medicare for All and criticizing billionaire influence on politics. Zohran Mamdani, who recently won New York City’s Democratic primary for mayoral candidate, has promoted fare-free city buses and other public initiatives.
Former President Donald Trump responded by labeling Mamdani “a 100% Communist Lunatic” on Truth Social and referred to Sanders as “crazy,” saying: “we’ve had Radical Lefties before, but this is getting a little ridiculous.”
Gallup’s findings indicate persistent partisan divides over economic systems and institutions in the U.S., with declining confidence especially evident outside Republican ranks.
