Capitalism Faces Growing Skepticism Among American Voters, New Poll Reveals
A Decade of Shifting Attitudes
Support for capitalism falls in new survey – A comprehensive new survey has uncovered a notable decline in American confidence toward capitalism over the past ten years. The findings, published on Wednesday through a collaboration between The Wall Street Journal and NORC Research Center, paint a picture of a nation increasingly questioning whether its economic system serves the public interest effectively.
When asked to evaluate the current state of American capitalism, nearly half of all respondents—specifically 48 percent—indicated that the system is functioning either “very well” or “somewhat well.” However, this positive sentiment was narrowly edged out by the 51 percent of participants who expressed dissatisfaction, stating that capitalism is functioning either “not too well” or “not at all well.” This represents a meaningful shift from previous years, as the Journal noted that approximately 37 percent of respondents in 2015 had already reported that capitalism was not functioning well at all.
Rise of Democratic Socialism
These results arrive at a pivotal moment for the democratic socialist movement in the United States. Over the past year, proponents of democratic socialism have achieved several significant victories in primary elections across multiple states, including New York, Colorado, Washington, and California. These electoral successes have helped bring socialist ideas into the mainstream political conversation, potentially influencing how voters perceive the broader capitalist framework.
Adding to this trend, a separate survey conducted by The Economist/YouGov and released toward the end of last month revealed that nearly one in three Americans expressed willingness to support a democratic socialist candidate in future elections. This growing openness to alternative economic models suggests that capitalism may be facing more serious ideological challenges than in previous decades.
Corporate Power and Government Intervention
The poll also captured public sentiment regarding the role of corporations and government in the economy. A substantial majority of respondents—52 percent—leaned toward the view that power concentrated in the hands of corporations and business owners ultimately harms both consumers and workers. Furthermore, this same majority indicated that the government should take a more active role in limiting corporate influence.
Conversely, roughly 45 percent of those surveyed maintained a pro-free market perspective. This group believes that America’s success stems from its commitment to free markets and that government interference—whether through regulation or attempts to own private companies—tends to weaken the nation’s economic foundation.
Broader Political Context
This shift in economic sentiment coincides with heightened voter concerns about affordability and cost of living issues. Additionally, President Trump’s approval ratings have experienced a decline during this period. According to Decision Desk HQ’s aggregate of recent polling data, the president held an approval rating of 41.4 percent as of midday Thursday, with his disapproval rating standing at 55 percent.
The Journal/NORC poll was conducted between June 11 and June 18, surveying 1,862 U.S. voters. The results carry a margin of error of 3.44 percentage points, providing a reliable snapshot of current public opinion on capitalism and related economic policies.
